Hey Jennifer!
When we go on vacation, I always schedule Magic Kingdom 2 days during our trip. I like to try to fit everything in a full day at Magic Kingdom, if we can, and then use the second day to hit anything we didn't get a change to see or do and our favorite attractions again. Magic Kingdom is a favorite for my daughter so she is always happy to go back. If you know you are going to be at Magic Kingdom 2 days, it doesn't feel like such a rush from attraction to attractions. I think the park is much more enjoyable when you know you are coming back another day. If you want to stop for that picture with a character or in front of Cinderella Castle, you will feel like you have the flexibility to do so versus touring the park on such a rigid schedule. Something we also like to do is hit Magic Kingdom right when the park opens, leave midday for a nap or a relaxing swim and then go back to the park for the evening Extra Magic Hours. The Extra Magic Hours make the park much less crowded and since you will be well rested the late night hours are great!
As for fun family activities, my family and I always take a silly picture in front of Cinderella Castle. Last Christmas, I bought silly holiday themed glasses for us all to wear in our picture. It's one of my favorite memories. If you have children, I recommend the
Bibbidi Bobbidi Boutique or the
Pirates League. It is such a treat to see little ones get all dolled up and walk through the park.
I am sure whatever you choose to do, you will have a great time! I look forward to hearing from you again, if you need anything else. Have a nice day!