I'd hide it with a mixed border for beauty and privacy.

Me, too.

Mixed border-much more attractive and interesting than a straight row of Aborvitae...or a straight line of anything.

Keep the fence. Add planting to soften and distract from it. It is actually not a bad fence. It almost disappears. Chain link gets an undeserved bad wrap. I'd mix evergreens and huge grasses.

The fence is a backdrop. Do the arborvitae. It grows fast and tall as a evergreen backdrop. You can then add decorative planting at one or multiple locations chosen only for your interest, not height.

You can remove everything except the posts, strap a board vertically to the posts, and do horizontal slats. You'd probably need a horizontal cap board. Horizontal slat fences work best when there's not a lot of grade difference.

Thanks so much!