Stacking would be a trade off. You would lose 1/2 of your upper cabinet space but gain a lower cabinet.

I agree with Jubel. Install some cabinets which provide what you need (storage and perhaps increased place to hang things on a rod). Do not stack the machines-you have plenty of space to keep a sink in there (which comes in handy), have folding space, and a place to store things. Speaking of storing things, just getting rid of some of that clutter will make you like the room more. The right upper cabinet configuration will really change that room.

This is a great thread about a re-do of a laundry room. https://www.houzz.com/discussions/sad-and-ugly-laundry-room-dsvw-vd~3792622?n=243

Part of the problem seems to be that the space gets used for non-laundry purposes like dropping shoes and other things. Try to give the mudroom functions a space, whether that's a fold-down seat for putting on boots, or a couple of hooks for the dog leash et al, or a place for mail, or whatever. That plus the improved cabinets suggested above (with detergent and friends stored away) will go a long way toward reducing clutter and thus making the space feel less crowded. A cheerful poster or pair of prints on the wall opposite the machines is also nice.

A cuter light fixture might make you feel better about the space, by adding a little glam that's just for you guys... (make sure you have plenty of lumens in a laundry room too, daylight bright.)

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Just a thought. More light overall would help, even if it was just a big fluorescent fixture!

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This could also be a place for a cheery paint color...

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I would definitely increase the size of the cabinets. Look on Craigslist for cabinets that can fit in the space and be painted. Don't be afraid to paint them a pretty color or add great handles to dress them up. If you don't have the budget for a new laundry sink in a cabinet, add a skirt around yours in a pretty fabric so it doesn't feel so utilitarian. A countertop over your washer and dryer is a great idea to add folding space. I also agree with changing out the builder grade light for something prettier. There are plenty of pretty indoor/outdoor runners you can add in place of the small rugs that would brighten up the space and can be easily hosed off to clean. Add a pretty roman shade to the window and you can add a tension rod between the wall and cabinet to hang clothes as they come out of the dryer or a hanger that folds down from the wall.

Lose the space between the washer and dryer, and replace the free-standing sink with a cabinet and long countertop. (what is the item you have separating them ? Is it necessary for that item to be kept in the laundry room ?)

The cabinet would provided needed storage space and the countertop would give a little ledge to hold folded laundry, etc.

I'll leave you to the experts but that is NOT a tiny laundry room!

Ours is a closet. It fits our stackables and that's it. There's no room even on the back of the door to hang anything.