Welcome to the Forum!
As Irish Pride noted, there are many things you can do to your car. The front/rear sway bars are a first and simple upgrade. If you have a Digital / Analog caliper go out and measure your current bars near the mount to the frame. There are many various thicknesses to these bars. I'm currently running 24/26 (front/rear). Suggest upgrading to some HD end links like Moog or fully adjustable ones ShoSource has/had.
I believe others have had more experience with those Adjustable shocks. I currently have a pair I am working on fitting into my ride. It was suggested to me to weld them, but that messes up the paint, so I'm fixing that now and just waiting to get them back. I'm also working on getting adjustable mounting plates for them, but not holding my breath quite yet as it's been a journey there so far...

But I've got plans...
Keep in mind these aren't the same quality ShoSource sold (or others) as the stroke is shorter but very height adjustable. I would recommend some Thrust Sheets / Bearings to make adjusting the shock height easier. I've heard this also resolves some issues with noise during turns. I got mine from the site below as they had them and were somewhat local to me. You only need 1 kit, but I got two since I wasn't sure how it would turn out. There wouldn't be any issues with 1 kit. Keep in mind the MaxPeedingRods are 70mm in diameter when looking for parts:
https://www.shop.upgrademotoring.com
Part: SUSSWI744303
If you stick with stock struts/springs, a new set of Fully loaded Monroe or Kyb might be just the thing. Gen3 Sho Fan has done a great deal of research for stock suspension. Take a look at his
post. There are a number of SHO specific springs that would improve the load / stiffness.
If you aren't into doing the work yourself, there are many companies such as Ford Performance Specialists that have years of expertise with this platform that can pretty much take it to any level you want.
If you are looking for updating your engine bay, well I suggest going here:
http://www.moranav6racing.com/
Morana has been around for many years. I believe the FlexFuel cars were the DOHC style. I know a majority of Tom's upgrades went to the SLO which could be pushed to over 300HP NA. I have followed at least one person that went this route and well you can only say is new tires please...

$$$!