If remodelling in a few years, I’d look for a pendant that wasn‘t too expensive. To save an electrician having to install additional sockets, suggest a pendant that only has one connection (which assume is what’s there). Given the narrowness of the island and the stove, a long and narrow style and hung not too low.

https://www.jossandmain.com/lighting/pdp/ledbury-4-light-kitchen-island-pendant-j000421906.html

You‘ll have to repaint ceiling, so I‘d update wall color as well for a nice fresh look.

Is there a ceiling exhaust vent or downdraft vent for the cooktop under the light?

That fixture is not only dated, it’s overwhelming. If a major Reno is down the road and you want something functional and budget friendly, consider this simple fixture from Costco.