Kindly let me know if anyone has any ideas how to increase the space?
[cool]
We had a neighbor who had an upward expansion done on their ranch style home. The section of roof over the three car garage (truss built roof) was lifted by crane. Then the construction crew installed engineered floor trusses for the second floor, walls were framed and the roof set back in place. All in a day. Of course there was lots of preparatory work beforehand and then all the finish work later. Can't say that would work for every home.
I think you'd need to supply more information to get any more particular.
Depends on your foundation / local codes may allow a two story addition, you need to check with the building dept in your area.