This is truly a matter of "look." Either painted or stained would be appropriate, functional, and attractive. Here is what we did with our kitchen which is similar in size and exposure to yours:

It could have been white/off-white or stained a much lighter color. I don't think darker would have been a good choice though. We could even have done painted in a color like sage green or butter yellow, and done something entirely different with the wall color. This is a smallish space, but with an island (vs. a peninsula), you can consider doing the perimeters white with dark counters and the island dark with light counters. We've seen several of those here which turn out very well. When you are starting over and replacing all the cabs and counters, the possibilities are wide open. Choose what appeals to you. Of course, if your SO has an opinion, that will influence the choice too.

P.S. This is a question better asked on the gallery side vs here on the conversation side. Post again there for more and better replies.