Do you NEED that much vanity?

I would remove the vanity, put in a pedestal sink, recessed medicine cabinet and new light fixture(s) wall sconces would be nice. new floor if possible. Oak and formica is dreary.

Ooooooh, how much fun! The first thing is to set a budget and decide what, if anything, you must keep. Do a Houzz search for small bath remodel or renovation to see what style appeals to you. It’s hard to suggest options without that kind of info. Definitely ditch the vanity though. I love a more modern look so a small wall mounted vanity would still give you a bit of storage and open the space visually. All new floor tile, sconce lighting with a can or two overhead, new shower doors and shower tile to the ceiling would be fab. Good luck!