What would you do to create a kitchen space in this area?

[William Cook]

Hey everyone, recently acquired an investment property with a mother in law basement setup. There is a space for a kitchen but it has a strange set back wall with a sink. I have a few ideas on designing a kitchen layout but wondering what other ideas are out there? 

Notes: 
-Carpeting will be replaced with LVP throughout 
-Wood paneling will either be removed or painted over (filling in gaps, sanding, etc) 
-Considering closing off the sunken in space to make the wall flush? 
-This will be turned into an airbnb rental so it doesn't need a ton or storage/spacious 
-Looking for layout ideas rather than finishes

Kitchen areaOne rough sketch idea If your back were facing the sink area. Corner could be used as storage space