Yes

I’ve read that converting a 1/2 bath to a full bath can increase the value of a home by 9%. Without knowing more about the house size, number of baths, number of people living in the house and what stage of life your family is, removing a 1/2 bath may not be advisable.

Keep the half bath. I have a half bath in my master bedroom and I love it. The full bath in the hallway stays tidy for guests. If you live with other people, do you really want to walk OUT of your bedroom at night just to use the bath?

Don't do it. Even though your half bath is small, it is very desirable and functional.

Who wants to trek outside if they have to urinate in the middle of the night. A spare toilet is always welcome.

Is there some way to increase storage in your closet or rethink how you store things generally.

I grew up in an old house which had tiny closets and my parents just had closets framed out in front of the existing closet. They were reach in closets with sliding doors but provided a significant amount of additional storage and didn't eat up too much of the floor space - the rooms weren't giant rooms to start

Thank you All for your suggestions!
We have a small master so we are unable to make the half bath into a full.
With your input, we have decided to keep the half bath and make the small closet work.