To my great brother Marty who owns a F150.
The question is can we make it faster? Yes, but it may require an investment several times more than the purchase price. The stock engine is rated at 260hp when new. 0-60 times in the 8-9 second and 16 second quarter mile times. https://www.zeroto60times.com/vehicle-make/ford-0-60-mph-times/
Simple solutions may include running premium octane fuel and have a shop dyno tune the engine with the higher octance fuel. Find a shop with 5.4 knowledge and experience. Get colder air into the engine.
Lose the weight and it will be faster for free. This maybe the least attractive answer. Boosting engine HP is complex and time consuming. You could always sell it and purchase a used SVT Lightning... See below
The stock Ford Lightning engine was 100HP+ higher than a stock 5.4. 0-60 times in the mid 5 to 6 second range is pretty decent even today.
https://accelerationtimes.com/models/ford-lightning-f-150-svt
So, if the only option is to make your truck faster, than one option is to supercharge your truck engine.
https://www.procharger.com/truck-suv-superchargers/ford-truck/2003-1997-f-150-5-4-4-6-2v/
The video below is a 2002 f150 xlt with stock long block on 15psi with a D1sc procharger Truck on dyno made 400hp/500tq at the wheels on old 12psi P1sc set up, best 1/8th mile run on old set up was 8.3 on street tire. (The estimated quarter-mile time for an 8.3-second eighth-mile run is approximately 12.92 seconds.)
That is quick but still not modern era fast. Fast is 10 second or less quarter mile times.
https://www.youtube.com/watch?v=QqnSaIsSIV8&t=1s
Being fast is electric cars accelerating in the 3 second or less 0-60 range. The old adage of, "if you can't beat em, join em." The power of a mega cubic inch, turbo, or supercharged motor with the reliability of a modern vehicle.
The answer may be to install a Tesla drivetrain or similar electric crate motor setup. But it can be an undertaking that will require fabrication, advanced electrical knowledge, and a big budget. The result will be 600-800 horsepower of reliable, rechargeable chaos that will behave like a docile commuter when needed. https://kaizenmotoring.com/complete-tesla-swap-guide/
Put the F150 on a weight loss program. Taking off the weight is the least expensive option for speed.
This method will result in your stock truck no longer looking stock.
Front and rear bumpers, (including trailer hitch) with brackets weigh alot. Strip the interior of unneeded seats and accessories.
Options for losing weight.
Lightweight Wheels and Tires: Upgrading to lighter wheels and tires can significantly reduce unsprung weight, improving handling and acceleration.
Upgrade to Lighter Materials: Consider replacing heavy steel components with lighter aluminum or carbon fiber alternatives.
Air Dam: An air dam installed on the front of your F-150 can reduce drag, improving fuel economy and potentially increasing top speed.
https://truckomize.com/how-to-make-ford-f150-faster/
Getting colder air into the engine will help with performace to a certain extent. It all hinges on the current air temperature coming in now. I like this unit, although pricey, with a paper element instead of the oil based filters. This, with a proper tune on high octane lighter weight truck, might just be the ticket.
https://www.americantrucks.com/productphotos?webid=volant-f150-closed-box-cold-air-intake-powercore-dry-filter-198546&showFeed=True&customerpics=false&index=1
Your engine is a giant air pump. It needs fresh air in and spent gases out. A smog check, if it passes, would dictate if it is running correctly and unless there is a restriction, an aftermarket exhaust with headers, newer cats and larger exhaust pipes may not get you a return on investment.
The reality is both simple and complex at the same time. Time is always on the complex side of the equation. Money, if you want to spend it, is on the simpler side.
I wish we lived closer so we could spend more time together. It would be fun to work on this together. Love ya bro. May God bless you with a full recovery.