I appreciate everyone's input!
Upgrading to a bigger tank is not an option for now. I have taken your suggestions into consideration over the last few days and I think it is safe to conclude that my aquarium definitely needs some changes.
I will strive to rehome the Silver Cichlid, Featherfin Catfish, and the Ornate Bichir (I would LOVE to keep the ornate, but not everyone in my residence enjoys his presence as much as I do).
I am also willing to rehome the MidasXParrot.
If these fish are rehomed, would my aquarium still be considered highly overstocked? Ideally, I would like to add an additional compatible Cichlid of some sort, a unique fish, or a school of some kind. (1 of the 3).
Based on this, please keep your suggestions coming as I keep you updated with the progress (Pics coming soon!)