It seems fairly open to me. Without knowing if that remnant is a weight-bearing wall, I'd get rid of the peninsula and corner pantry, and close off the door to the back hall. Move the clean-up zone to the wall with shared bathroom plumbing, and put a prep sink on an island.

You could pull the clean-up run out to the depth of a standard-depth fridge, to make deeper counters, and keep more cold storage. I didn't draw the uppers, but you could also use deeper uppers on the same wall. If a drawer MW is not in the budget, a MW can go in an upper beside the fridge.

GW discussions/deeper counters.

Same island, but sink and range have been switched, which provides a separate clean-up zone and smaller prep triangle. Range is not as easily vented on outside wall, and the plumbing is not shared with bathroom wall:

ETA, I didn't take time to draw this idea on the grid, but the island could be turned parallel with the back wall, and a second row of cabinets added for extra storage:

Get an independent KD to the site, who shall bring an excellent contractor, after you figure out what " Not breaking the bank" means in dollars. : )

Thirty K. Twenty K..............Fifty K ?? What?