Consider moving the toilet to the shower corner in the current bath and adding a stacking washer and dryer where the toilet is now. Then convert the bedroom and laundry at the other end of the house into a master with ensuite bath, closing that exit and finding a way to add an exit from the back of the house for access to the carport. For resale value, you are better off with three bedrooms. 1.5 baths, than with two bedrooms and two baths. A master suite will be a great upgrade to your home's value both now and if you ever put it on the market. You'll enjoy it too!

There seems to be a large hallway between the third bedroom and the laundry room. I also noticed an exit door in that hallway. Would it be possible to close off the hallway off the 3rd bedroom and the exit. Then turn that hallway into a second bath. You can then take some space from the laundry room to make the kitchen larger and create an exit.

Not sure what C and F are. Could you put the laundry into a cupboard into that space and convert the whole area into a large master suite with WIR and bath. You would have to close off the outside door. But that should be OK. It is just a longer walk across the deck from the car port. Small price to pay for a great use of space.

The hallway between bedroom 3 and laundry room seems a bit wide and could be incorporated for a bathroom area perhaps.

Thanks for all your comments and suggestions! A master bedroom with an ensuite would be fantastic.
C = Closet
F = Fridge