This is a powder room, not a bathroom. Two fixtures are all that it will accommodate. But they need to be the right fixtures. The sink is OK for the period, but the toilet too modern and is is badly located.

It should be a corner toilet. You will probably need to have a plumber move the plumbing to install it. Since you have a basement it should not be a big expense, and the result will be worth the cost.

These come in plain and fancy.

American Standard Cadet Corner Toilet, about $375.00.

Mounting the sink in one corner and toilet in the other makes most efficient use of a small space leaving lots of room in front of the ink and knee room for the toilet so users don't feel cramped.

Decorating the room to make it look larger requires two approaches. First, use only light colors and, second, decorate with strong horizontal lines.

The decorating pros we work with always suggest that you search the web for an image of a powder room that you really like and copy it. The web has thousands of powder room images, so something you like is almost guaranteed.

And don't forget adequate lighting and ventilation.

What are the dimensions of the bathroom?

We really cannot comment well without seeing a little drawing of the size of the space and where the door is located. Do you want to move the location of the toilet? @StarCraft Custom Builders makes it sound like a piece of cake. Is it?

I'd get a new toilet and center it on this short wall. Then get very small wall hung sink to place on the long wall. I did this in a powder room in my house from 1852 that was much more narrow than your bathroom.

Though it sounds contrary, I always go for dark color or a more bold print in a small bathroom to make it look bigger. (See in these pics below how the solid, light colored rooms just feel long and slender but those that have more going on feel more spacious.)

I like those that managed to create a slender sink with counter area. I think you have enough width to do that too.

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A small underground powder room is better as dark and moody, rather than pretend it's in a spacious solarium.