Paint would be a more economical option for updates, perhaps even changing the hardware as well.

I agree, paint can do wonders. Could also get a quote to replace countertops and have an undermount sink installed. Good luck!

If you are a DIY type you could tile your back splash with an inexpensive subway tile in a similar colour to your countertop. Paint your walls CIL Chelsea Fog (or similar) to complement the I orange undertones of your cabinets, and replace cabinet hardware with oil rubbed bronze pulls. These changes will freshen up that space nicely.

I would change the counters and get rid of all the clutter, the corner cabinet I woud remove the shelves and just put one lovely vase there, on the open shelves just things that are all one color and not all the little stuff. Get a track light to give better overall light. Do you love those dark intense colors? Hang a piece of art on the red wall and hang it so the center is at 5' and if you get rid of all the stuff on the counter a great backsplash would work. There are some great laminates for counters , check out Formica 180 FX to start. no wood edge on the counters when you change them.

You could easily update this kitchen by painting the back wall a charcoal grey and add some art. Replace the countertops with a white laminate and square off the eat-on bench end to give a modern look - no timber edges, new handles. Aim for a sleek and tidy look, minimal clutter and bits and pieces.

Phase one would be to paint, hang a piece of art and change handles as described by others above. Plus - and this is important - use the shelf space more wisely, with functional (if you are short on space) but attractive items. There is too much clutter right now and simply replacing/storing some of the items on the counter and shelves will make a quick difference. Phase two would be to replace the counter tops when your budget permits.

I am wondering how the red wall fit in with the rest of the room. Perhaps a different color if it ties in with your other furnishings would help to update the space. I like the charcoal suggestion, especially with a change of handles on the cabinets for an updated look.