Not 'bad'.
redo on the "To do" list: paint as desired, change purpose of existing bottle holder ring into holder for fire extinguisher, add bottle mount for 'bigger' gas cylinder (the cost for a refill is mostly 'handling' and not much to do with the 'cost' of the gas inside the cylinder (helium is an exception there), so going from a 20 cu ft cylinder to say an 80 cu ft cylinder gets you 4x the amount of gas for maybe 2x the cost (at least around here).
Keep the little itty-bitty gas cylinder around as a 'pony' bottle, for when you are working on a project on the weekend when all the supply places are closed, and you run out of gas from your 'main' cylinder with just a little more welding to do. Curse a bit (or a lot, depending on just how boogered things got before you 'noticed' that you ran out of shielding gas

), grind out the ruined weld you just did (from no shielding gas), hook up the little 'reserve' cylinder, re-weld. Fill up 'main' gas cylinder at your semi-leisure.
Some sort of shelf or 'storage' is pretty nice to have IMHO. Welpers, some clamps, some spare contact tips, some nozzle dip in a jar, a few more clamps, soapstone, maybe a few Sharpies (black for light colored things and silver for dark colored things, some more clamps, a replacement nozzle or two, some more clamps, a straightedge, maybe a hammer or three (steel and deadblow), a few more clamps, some grinders (can't have just one

), some acetone in a spray can (aka 'new' formula brake cleaner spray) to help clean things before welding.
Oh, and maybe add a hook or something to hold your welding hood. And maybe a coat hook for your welding jacket(s) (the light cotton one for quick welding or summertime use, and the heavier leather one for winter use or 'heavier duty' welding, like when doing some overhead welding on your back underneath something. Molten steel is dang hot and can drip, btw.

)
Hmmm, someplace to put the welding gloves (got to have a few pair, at least). And the workgloves as well. Some safety glasses as well.