There is plenty of clearance
My extraordinarily modest empire as it stands right now.
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It looks to me as you actually have a litte room left between the track and the walls. I would consider pushing the track right up against the wall, making the oval a little bigger. Even just a section more width or length makes differeence.
With a small oval layout, laying track inside the oval can add a lot. With the tight curves you use, you can also use very tight radius switches. And you will probably only use like train consists of like 3 short wagons or so, so a station track inside the oval, and a siding could make perfect sense.
If you can add a straight section in the middle of the 180degree curve, an inside curved track might be possible, making up a bit longer second station track. (Might not be a quite parallell track. You need to experiment.)
If you decide to do a little more than just an oval track, I would consider mounting the track to some board material. Maybee cut to shape, if you need room to stand inside the layout peremeter for operations. Start out by laying out the track unfastened those times you bring out the layout to run. Later, get some snap-locking devices pulling the board edges against each other, and cut the tracks veven to the board sections. One of our mobile club layouts has gone through exactly this evolution. We don't use railclamps for the rail joints at the board joints.
You can paint a landscape backdrop and put it on the wall where the track runs close to it. That does make the layout feel much more spatial! It's very common in indoor gauge 1 layouts. It might be a town, harbour scene or something else. Often an actual model building wall or just some brick or stone wall might be part of a transition between the layout and the painted backdrop. Just building a slice of a model building is of course also a lot less work! Perhaps make a station building this way? The back of station buildings rarely add that much to the layout experience anyway. The front and a platform or two is usually the interesting part.
Notice how much nicer the track looks if you paint the sides of the rail sides a rusty-brown! And you don't have to make it as careful as if you were painting fingernails, which is kind of the precision in the picture. I go about it in a less painstaking manner. (On the other hand, I've got a lot of track to paint.) One member here cuts an "E"-shaped piece of carton and uses it to protect the sleepers when painting.
But once again, get up and running ASAP! Any layout is a work in progress, and you need to have running fun to feel inspired to do all the improvements over time.
