That looks like the factory front sway bar setup for that model year of Ranger. Those two pictures show a single factory sway bar, so I'm entirely sure what it is that you are asking about.
I do recall a person running two sway bars on the front of a Ranger, but he had to mix and match parts from several year models to do it. He used the sway bar and radius arms from a 83-88, with the beams and front sway bar from a 89-97. The earlier bar mounted to the radius arm crossmember and attached to the radius arms, while the latter bar was mounted like yours.
IMO if you want more sway bar in the front, you would be better off getting a larger aftermarket bar to replace your existing front bar. That said if you are really looking for better handling, you are starting in the wrong direction. Before any more sway bar will make an improvement, you really need to address other areas of suspension and handling.
IE:
Worn out suspension bushings, tie rod ends, ball joints
wheels and tires (larger wheel with shorter sidewall)
Body mounts
fresh springs
I started out the same as you did on my first vehicle, the 84 Ranger in my sig.
Dad and I replaced ball joints and tie rods before putting the truck on the road, we never touched any of the other bushings. After that first came the largest sway bar I could fit on the front, nice improvement. Next was the largest sway bar I could fit on the rear, little better, but nothing spectacular. A couple years before it was totaled I was kinda forced into a 16" wheel, 14s were hard to come by and I had the 16s from the other truck. Stayed with the same diameter and width tire, but swapping that 2" of sidewall for 2" of wheel probably made the biggest difference of anything.
If you do all of those and still aren't happy with how it's handling, it's time for either a sports car, or a lowering kit and major suspension mods.
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