There are a lot of good options, new and used, but I think I'd start with, what are your plans with the panel longer term? I wouldn't spend time and money putting something in, that you might then end up yanking out in a couple years time if you are planning larger panel upgrades.
A GDL82 (not sold anymore by Garmin, but available used) can be interfaced easily with your existing transponder, and has it's own WAAS position source, but is a bit more invasive of an install than just tossing a tail beacon or wing tip device on, and I'd only recommend that option if your current transponder is still in good shape, and you didn't want to go with a nav-light based solution.
A GDL88+GTX330 can be had fairly inexpensively on the used market, and would get you ADS-B in/out (UAT out), but you'd need something in the panel to display the ADS-B in, if you don't have anything in the panel and wanted it to only display on a portable device, you'd also need to add a Flightstream 210, and would need to get a GDL88 with the position source, assuming you don't have a WAAS navigator already (if you are all original equipment, I'm guessing you don't!). The install would also be more involved as you would have a panel mount box and a remote mount box and the wiring between.
There are two options that are mostly all in one, and should likely fit in the same-ish space as your existing transponder (they are a bit taller) would be a GTX 345 or a GNX375. A GTX345 w/WAAS will do in and out, stream to your iPad or other portable without any additional equipment and provide its own position source. Other than adding the WAAS antenna, the install wouldn't be terribly involved, it should mount in the same space as the existing transponder. This will also interface well with any future panel modifications, like adding a GPS navigator etc. The GNX375 would give you the same in/out as the GTX345, as well as being a WAAS position source, it is also a WAAS navigator. You'd need somewhere to install an indicator, and it's a little more involved of an installation, but it's probably the most forward looking, and would open up the world of GPS navigation to your panel.
Something like a stratus ESG also works for easy ADS-B out with a modern transponder, but it can only use its own internal WAAS position source. The drawback of that is if you ever were to add a GPS navigator to the panel, you couldn't just use the antenna you installed for the stratus for the navigator, and then send position source over serial from the navigator to the ESG, so instead you have to add a second antenna. Plus it doesn't get you in, other than through essentially a portable device.
The Lynx NGT9000 is another interesting unit, would get you in/out as well as a minimal display for traffic and weather, but their big problem is support these days (L3 has sold them off), and it also doesn't interface completely with all panel mount stuff (some units you might be able to display traffic, but no weather, etc).