Speakers for sure. We can nitpick and upgrade the whole system, but for me, your speakers are the weak link. I also thought about the cartridge, as it seems to be a bit outmatched by your table, but that I think can stay for a while.
I dont know your budget or taste, but these two speakers caught my eye after a cursory search. Both larger and more sensitive than your current speakers, and both a big jump up. Both in the 800-1200 price range on the 2nd hand market on audiogon.
https://www.audiogon.com/listings/full-range-tannoy-eyris-dc3-floorstanding-speakers-pair-1862-2017-...
https://www.audiogon.com/listings/full-range-revel-f36-pair-white-2017-03-31-speakers-90710-harbor-c...
I think I would look for a speaker I liked and that the rega could drive reasonably well first. My next focus would probably be a MC cartridge and a phono preamp that can properly amplify the MC cart. I would budget about $1000 for a new MC cart and perhaps $500 for a used phono preamp. I think that level of analog gear will be more properly matched to your table, and once you have found speakers, the source is the next worthy upgrade.
lastly, I would look at the amplification and cables. All this of course assumes that you don't mind diving in and funding a total system upgrade!! It certainly doesn't have to happen overnight. But if you have the taste for it and want the next level in sound reproduction, that is the path I would follow in the months or years to come.
I dont know your budget or taste, but these two speakers caught my eye after a cursory search. Both larger and more sensitive than your current speakers, and both a big jump up. Both in the 800-1200 price range on the 2nd hand market on audiogon.
https://www.audiogon.com/listings/full-range-tannoy-eyris-dc3-floorstanding-speakers-pair-1862-2017-...
https://www.audiogon.com/listings/full-range-revel-f36-pair-white-2017-03-31-speakers-90710-harbor-c...
I think I would look for a speaker I liked and that the rega could drive reasonably well first. My next focus would probably be a MC cartridge and a phono preamp that can properly amplify the MC cart. I would budget about $1000 for a new MC cart and perhaps $500 for a used phono preamp. I think that level of analog gear will be more properly matched to your table, and once you have found speakers, the source is the next worthy upgrade.
lastly, I would look at the amplification and cables. All this of course assumes that you don't mind diving in and funding a total system upgrade!! It certainly doesn't have to happen overnight. But if you have the taste for it and want the next level in sound reproduction, that is the path I would follow in the months or years to come.