I love this kitchen pic i found on Houzz. You could apply a cherry- cinnamon stain to the cabinets and paint the walls SW Tidewater. That's what I plan to do with mine, I have the paint , just havent got around to doing it yet.

Rustoleum has products that you paint on to give your cabinets and counter-tops a new look. The Cabinet Transformations comes in a good variety of colours and includes a base coat, top-coat colour, and a glaze. I believe the products are sold at Lowe's and Home Depot. Friends of mine did their whole kitchen, about the same size as yours, with 1 kit which cost them around $100. Ideally, you could replace the counter-tops, but if money is tight, The Countertop Transformations (also by Rustoleum) is a little more money than the cabinet product, and is a thick coating which has flecks of colour in it to give it more interest. Our friends also used this product in their kitchen and were very pleased with the results. Change up your cabinet hardware, maybe get a couple of new pendant lights for over the island, and you could probably do everything for about $500-$800. Obviously, if you change out your counter-tops, it will be more expensive.

New cupboard hardware and a new large single pendant light over the island, an orb or drum pendant, that sets your style, new wall color all are a good start. If money allows, you can put up the punched tin look back splash panels, sold at the box stores. https://www.houzz.com/photos/2010-spring-parade-of-homes-eclectic-basement-phvw-vp~1726812

On second look, the larger light over the table and similar finish pendant over the island. Can you open up those curtain panels on those lovely windows? New flooring when you can afford it will really make a difference to the new look.

Backsplash and install some drawer / door pulls to add some personality.

I think that you must reconfigure the kitchen again using the same cabinets to make the kitchen look more spacious. I can't see the countertop material but would be cute if you put granite.

Also, do you need all those upper cabinets? Removing some and putting open shelving would really open up the space.

Updating your appliances to stainless steel or black would drastically improve the outdated look, the curtains are too close in color to the wall color and a bit too formal. Do you have blinds on the window? If not some wood blinds might be a better look and will make the space look more open and larger. The Rustoleum idea is awesome, I have included some before and after pictures of some friends of mine who transformed their kitchen and now it has a more sophisticated look. Also, your light fixture above your table is too high, try lowering it a bit. If countertops are not in the budget right now, hopefully when you can afford to replace them make sure you extend the counter over the sink for more leg room when sitting at the stools. You have a very nice kitchen area, good luck and I hope we get to see your transformation on Houzz.

It looks to me like the biggest areas that need change are the floor and back splash. I love this DIY burlap back splash with quotes or recipes. You could do the same idea using torn paper bags. Put a few topcoats of varnish and you're done. This tile can either be grouted or un-grouted and runs about $2.75 for a 16 x 16 tile. !t also comes in several colors. Hope this helps!

Can I just say CHAULK PAINT! No priming or sanding needed! http://www.pinterest.com/pin/347199452493863190/ Then wax! Use Annie Sloan or make your own (see pinterest for recipe) I would do White uppers with and a light gray on the lowers. I think those colors would make your floor look amazing! I like the idea of removing a few of the upper cabinets to open up the space. Ikea has a real wood butcher block 129.00 for 6' run. To replace that island countertop.
Here are some links to help visualize.
http://www.whimsicalperspective.com/2012/02/my-kitchen-cabinets-with-annie-sloan.html
http://robynstorydesigns.blogspot.com/2013/08/finally-final-reveal.html

Agree with Tyler Cook, for now just buy some door/drawer handles, colorful towels, rug, accessories, new curtains for just the sides of the slider and live with it all for a while.

*windows, not slider.

Thanks for the suggestions. I am going to go with the rustoleum product for the cabinets. I can not afford a new granite countertop, so I picked out a silver laminate one. I attached photos of my backsplash, floor, and countertops that I ordered. I plan to paint the walls. Not sure on the color and add new hardware. After christmas I will add stainless steel appliances. I will add a brick panel on the wall next to the table in the nook and remove the formal curtains.

I see you've made some decisions already, but thought I'd weigh in regardless. To my mind the wood kitchen cabinetry, in the main, is not objectionable at all. Have you considered just doing a treatment of the stand-alone island? A colored island, some livelier patterned drapes with a light background, repainted stools (that would tie into the island color), hardware and wall paint would suffice while you save for a more substantial re-do. I'm not certain I would elect the faux brick application, as there are myriad threads here on how to get rid of real and faux brick looks. It doesn't seem to be quite the thing. Congrats on your new home! (And the really interesting table! I've never seen that. Cool.)