In my experience, the best thing for these Rangers is to add leaves to the rear springs.
Every truck I have had came with two leaf rear springs: lots of body roll, Very weird axle wrap in the rear, lots of wheel hop, etc.
My current Ranger has brand new tow package (3 leaf) springs with an extra long add a leaf, and a short add a leaf. It rides like a tank. I certainly gained some roughness of ride quality from the over sprung nature of the rear, but the actual handling is better. Even on my old 2wd Ranger which I just added a short add a leaf to. Basically every time I add leaves the rear of the truck handles so much better.
My last truck was a 2wd, current is 4x4. Neither have/had rear sway bar. I didn't notice any difference removing sway bar from my 4x4, I definitely noticed difference from adding leaves every time I've done it.
IMO, the 2 leaf springs aren't enough for any Ranger. The worst handling Ranger I've ever driven was a 94 2wd with the explorer single leaf composite springs. Yikes.
I'm sure you are interested in keeping your truck low, but I don't see why you can't add some leaves and still keep it low, between shackle flip, under axle perches, blocks, etc.