It's hard to think of it as an update if you keep that sink.

Have you considered wallpaper?

You can order a color-matched toilet seat, too, in the gold/mustard color.

http://www.amazon.com/Comfort-Seats-C1B4R2-53-Deluxe-Harvest/dp/B001AHKBVK

What color are the sink and toilet?

Mustard Yellow.

We just took down the wall paper which had been on the walls since 1980 and want to paint the walls a color scheme to go with the sink and toilet. I am open to painitng the cabinets too.

No more wallpaper, then. Try the lightest tan in the wood flooring for paint. If you are changing the lighting, do that first to get best color matching. Another option is to find a good match to the mustard yellow sink, then go two shades lighter on the same color card. In this situation of unusual and widely varied tiles, you may want to buy a fan deck from your favorite paint store.

When starting fresh isn't an option, I encourage people to embrace what they have and play it up instead of trying to hide it. Mustard is a beautiful color in the right dose and when complemented well.

I would consider the following:
- keep mustard sink and toilet
- paint cabinet a lighter mustard color
- keep tile countertop (looks complementary in your photo)
- big mirror
- update faucet
- add funky cabinet hardware knobs/pulls that match the new faucet
- add funky modern decor and lighting reminiscent of 70's style and simple linens

Mustard yellow and teal is one of my favorite color combinations, if you are brave enough.

I would paint the cabinet gray and have a gray framed mirror.

Navy blue and white cabinets if teal is too much for you. With the right lighting, it will not be too dark

https://www.etsy.com/listing/126316953/yellow-and-gray-pattern-knobs-dots?ref=market

https://www.etsy.com/listing/126907453/you-pick-custom-yellow-and-gray-towels?ref=market

https://www.houzz.com.au/products/cascade-bath-mat-prvw-vr~14736367

Mo more grey, please. Love the suggestion for a purple. Be sure the lighting is good enough if you go with that color. I would change the toilet seat to a nice white. Add a bold purple & mustard retro print to the wall & add hardware with straight lines.

@sandradclark why "no more grey"?

Just to show you how a deep purple would work with your existing (and fabulous) sink.

How about painting your cabinet white. A violet blue for the walls.