what is your budget and do you plan a full remodel in the future? In general.....it is a kitchen you will put money into to keep the "looks" but it will not serve you well long term. I'm not sure I would even pay to do formica here. Maybe Ikea butcher block ...it will give you a year or two easily and is very reasonable......but the counter removal and installing anything on your cabs....a bit "iffy " ..... No new floors...get some mats.

Yes, we are planning a large addition to the house in the future that will include complete kitchen remodeling - opening walls and all. We just need to make this appealing to renters now for the next few years. I had thought about butcher block too.

Since the plan is to rent it for a couple of years, I think you are on the right track. It really could be a cute kitchen! The goal is to look stylish and appealing to maximize rent, but spend very little. Here are a couple of fun tiles that I think would look great and honor the original style. Either would look good with the current wood color, white or a medium tone paint (pick color from tile). Butcher block would look great with painted cabs! The current hardware would too.

P.S....love the idea of the black faucet!

If you are a good DYI person you could put in a vinyl plank floating floor. It is waterproof and make sure it goes under the refrigerator. There seems to always be plumbing leaks with rental units. Try Home Depot, Floor and Decor, and Lumber Liquidators. Go for the sales and make sure it compliments the wood flooring.

Consider sanding and recoating the varnish with a compatible polyurethane inside and out. It will not show dings and dents nearly as much as painted cabinets would. Test the poly options on the inside of one cabinet door. Sealing the cabinet interiors with a new coat of poly will also minimize any "old cabinet" smell. The thickness of a couple layers of primer and paint may also keep the doors from closing neatly.

Thank you all for the suggestions, most were along the lines of what I had in mind (love that green antique pattern for floor tiles!), and it is encouraging to know that the project is on the right track. Two follow up questions - would Birch butcher block from HD be sufficient or should I look into more expensive material like walnut? IKEA blocks have bad reviews, apparently they replaced all wood with particle board recently. Also - to freshen up the cabinets, should I stain or do a coat of white paint for cleaner feel? They aren’t bad at all, just need light cleaning otherwise.