That's pretty ugly, but not uglier than a lot of these installations. Is the material there sound and solid? As much as you'd probably like it to look like this, it's probably unrealistic right now--not to mention unnecessary.
I wouldn't necessarily put addressing any of that high on the list for right now, though those clamps are junk. At a minimum, replace the clamps--and put two at the forward (engine) end. (This is one other place where double clamps are virtually required, as long as there's room. It's the potential for twisting, thanks to the rotating shaft, that makes the double clamps more important here than on most regular hoses--as I discussed in your seacock post.)
How's that hose? It looks a bit old, but hoses back there tend to start looking worse than they are. Check the hose all over for rotten spots, softness, or rusting helix wire (if there is any; true stuffing box hose has fabric reinforcements, not wire). If you find anything suspect, then you should replace it now. If it seems solid and sound, then I'd stick with replacing the clamps only. And you can do
that in the water, if you want.
You're not setting off around the world here. You're trying to launch a boat so that you can live aboard. While I hope that everyone knows that I am not suggesting to short-change any necessary repairs, I think you need to focus only on what is required to get in the water, or you're going to start really not enjoying this foray into boat ownership.
There is surely no end to the projects on your boat--she's 40 years old--but if you don't start living on her and stop working on the potential issues, soon you
will have a stripped-out project boat on your hand--and that's not what you bought, nor is it what you wanted at this juncture.
There'll be time to make everything pretty as time goes on. But don't lose sight of what attracted you to the boat in the first place, nor of your reasons for buying the boat at this time.