Remove the mirror and install a large medicine cabinet mirror. Keep the vanity for now and install some pull-outs to better organize the cabinets.

Congratulations on your new home! I feel your pain on the storage issue. We purchased a circa 1930 home a couple of years ago and the baths are TINY!

I switched one of the towel bars in mine for one like this Fold-able towel bar with hooks

I use the hooks to hang my make-up bag and other personal products that are not used all the time. I can easily (and neatly) fold 2 or 3 towels on top and use the bar for wash clothes and hand towels.

I use this Rotating Organizer on the counter for the stuff I use all the time-tooth brush and paste, creams, cleansers, etc. Keeps the counter tidy since overnight guests share this bath with us. It's not fancy but sturdy and blends in, lol.

We have very wide moldings around our doors so I had enough room to put 2 of these, Command Wall and Cabinet Organizer behind the door.

I have 2 of these Under counter organizers that can be used for all sorts of stuff.

These little things have actually helped, a lot! We plan to change out our standard vanity for a taller one but that will be a bit down the line. When you get ready to renovate your bath is when you should decide on your vanity. Live with it and see what you want. I, personally, would opt for a vanity with more storage.

Good luck and have fun with your new home!

Medicine cabinet is a great suggestion! You could also add an upper cabinet above the toilet. And (depending on the space to the right of the right-most sink) replace the towel ring with something with added storage i.e. train towel rack. If you need more places to store people's in-use towels, 3M hooks could be attached to the tile so the towels hang over the tub (not such an attractive solution, but if you're not using the space and need the walls for hanging towels....)

ETA - oops missed Reece's post - towel rack - that's where it's at =)

Sativa - I never would have thought of that but it's a GREAT idea! The current toilet placement feels even more awkward in person.

Damairain and Cindy - Thank you! I will look into medicine cabinets. I have a feeling that behind that giant mirror is an unfinished wall, so cross your fingers for me!

Reece - I'm buying everything on that list :)

Even better, on the reno, if possible, move the door to the corner next to the window wall, slide the vanity over the ex-door spot and rotate the toilet. I'd bet on a supply manifold by the shower and bath, feeding the toilet and then over to the vanity, with the supply coming in on the door end, making the move easy. Doing this gives you an ideal cabinet over the toilet and even, perhaps, a shallow unit at the vanity end with open shelves for sundries and cans, and a tall, narrow storage space or open shelves next to the toilet below vanity top level (magazine rack?). The only hitch for somewhat enclosing the toilet would be light with that bulkhead (a/c run?) overhead.

Question: do you *need* a separate shower? You could update to a freestanding tub, add a shower head, then use that former separate shower space for some kind of storage. Maybe even add in an armoire or something like that.

Does the door hit the toilet?

Bed Bath and Beyond will have wire mesh rectangular bathroom storage bin/baskets, some two-tier with pull-outs, which you can keep under the sink when not needed. Measure all the open space in the cabinet and draw a "map" of available space. The wire mesh bins are good because you can see what's in it.
You could put a teak shelf over the far end of the tub to hold all the bath stuff IF you use the tub. Open metal shelves attached above the tiled areas may work.
You could attach hooks to the door to hang bath towels. The hand towels can be hung on an O-ring towel holders on the wall or a countertop towel holder. Wash cloths can be stacked neatly in a wire mesh bin on the counter, under the sink or on the tub shelf.
Mirrored medicine cabinets over both sinks would add a lot of personal storage. You might need to use wall-mounted cabinets now, but they can be recessed when you do the big redo. The space between them could hold 1 or 2 O-ring hand towel holders.

I would definitely look at adding racks, hooks, etc wherever they would fit and look pleasing to the eye. I, too, find the amount of tile overwhelming to the eyes and would suggest painting a neutral colour over that lovely blue so the contrast between tiled and painted areas is not as strong. Then bring back colour with your accessories and towels.

A1, it looks like you might have enough room for this piece ,with lots of drawers , on the wall where your towel rack is currently. It is small enough, I think , to still be able to open the shower door . You would just need to add a towel hook closer to the shower. With a fun piece of art on the wall over it , I think this could be rather cute . Since you are remodeling in a couple of years, this wouldn’t be as costly or as difficult as redoing your mirror wall - since that might have to be changed later, as well . You could then use this little cart in a closet or somewhere for extra storage later. This cart can roll, but has stops on the wheels to keep it stationary. CONGRATULATIONS on your new, first home. Wishing you happiness there.