The kitchen is brand new or only the appliances?

I'd do the trick where you disguise the soffit with trim to make it look built in and paint it the same color as your cabinets. Then paint the walls a different color and call it good.

Your cabinet style isn't modern so even if you were to replace the counter tops and back splash you still wouldn't have a modem kitchen and would be out $$$ money. But disguising the soffit and getting rid of that brown paint will do wonders in changing the look and feel of the kitchen.

Thanks aziline, appliances are new and also fridge will be replaced by new one. We want to replace cabinets and counter top is of granite so we are confused whether we should get rid of it.

Thanks Lomo, we are not looking to tear and redo as it is costly for us now

I would paint the walls a less yellow/gold color. Paint it yourself and save money.

Issues for me would me the soffits, old style cabinets, no drawers, 4" backsplash with tile. These are not quick/cheap fixes, so I would save my money for the future when I am ready to tackle a full remodel. The kitchen looks clean and usable, so don't waste money trying to modernize by putting some lipstick on the space.

If we replace cabinets, will it improve the look Atleast? @chispa. Thanks for your suggestions.

Look at Ikea kitchens. That might be affordable IF you DIY.