Welcome to TRS
It has a Cold Air Intake already
Turbo is OK but not cheap, intercooler is used with turbo
Fuel injectors are not like Jets on a carburetor, larger injectors will just flood the engine and stall it
If you force more air into the engine, like with a turbocharger, then you can increase injector size
Switching any engine from mechanical cooling fan to an electric cooling fan gives more power and better MPG, one of the few things that does BOTH
And not too expensive if you use salvaged parts
You have a 2.3l SOHC Lima engine, used in Rangers from 1983 thru 1997
Also called "The Pinto engine" because it was first used in 1974 Ford Pinto
It was used in many Ford cars, Mustangs used it for many years, so lots of suggestions on those sites.
Suggestions here:
http://www.route66hotrodhigh.com/2300.html
A very reliable engine but low power to weight ratio, "built like a tank" and tanks are not known for speed, lol.
It uses a timing belt which needs to be changed every 100k miles or so, engine damage will NOT occur if timing belt breaks, but engine will not run of course until new belt is installed
Rangers got the 2.3l DOHC Duratec engine in late 2001 and up, so when searching "Ranger 2.3l" you will get conflicting info unless you are year specific
Good page here to bookmark:
https://therangerstation.com/tech_library/index.shtml
Lots of "been there done that" info on Rangers