Greetings r,
Power supply and then room treatment/acoustics. The order is not important.
I've rebuilt/redesigned the PS in my amps and preamp including custom wound tranny and chokes. Fortunately, I have the technical skills. Huge improvement and a rather expensive proposition to undertake.
I also applied room treatments courtesy Acoustics First many years ago. Corner traps, flat panels and deflection curve panels. Once done, the improvement is profount; I've not had the desire to swap gear 'monthly'. lol
I've JUST gone digital in my small solid state system with a Wiim Ultra. I'm not the guy to comment on DACs or streamers, other than power supply is important.
If you have the skills go for the soldering iron otherwise do the best you can with room treatments.
Cheers,
-W