is there an easy way to replace the faucet with something more practical (especially for kids use)??
I just love this sink.
There are a few of possibilities:
If the center hole is large enough, a Widespread Lavatory Faucet set might work with the valves where the current taps are and the water coming up to a spout through the center hole.
A Single Hole Lavatory Faucet mounted in one or the other faucet holes and install a blank-off plug one the other hole.
Though above my personal price-point, there are widespread faucet sets where the hot and cold water is combined in a pipe above the sink deck and flows to a single spout.
Here is a link that might be useful: FaucetDirect.Com
The center hole looks like it would be too small for a center spout. If that's the case, you might be limited to replacing the fixtures with something similar, except maybe with lever handles that open fully with a 1/4 turn.