no need for a lot of storage, just TP and hand towels.

I'd keep it as simple as possible. a piece of furniture with a drop in bowl would be suitable for enough storage and attractive. this is your opportunity to be expressive, create something you'll love your guests to appreciate.

I love the look of pedestal sinks in a powder room - they add charm. That said, it’s nice for a guest to have a space to place their purse. A small chair or table could be included for that purpose. A vanity does seem like a waste of space in a powder room. This first photo shows a wall-mounted vanity which leaves room on the counter and also leaves floor space open, making the room feel larger. This design also comes in useful to have a stack of single use hand towels on the counter and a basket beneath for used towels - a very useful feature during a pandemic! The second photo shows a way to bring a sense of nature in the space if there is no window, and also provides some closed storage.

I agree to do a vanity that is more furniture like. For me, a pedestal sink is fine for extremely tiny bathrooms where you don't have a choice.

Storage is always useful.

I would consider simplifying the room and make it dramatic

A floating vanity gives you a more spacious feel, plus a little countertop.

I never thought about where my guests put their purse when they use my powder room… Unlike airport bathrooms, I assume the floor will be pretty clean if I really need to put my purse there. Having even a little space on a pedestal sink, like Kohler’s Memoirs, is usually enough.

Since you asked for optimizing the space, I would replace the vanity with a unit that has much more cabinetry. How big is the room? I assume no one is using it for hair/makeup etc. You can store excess cleaning supplies there. Sunscreen, bug spray, first aid stuff. I would give myself a broom closet since I really need one. What are your needs and wants?