I renovated my son's old pond where the dam had been breeched and had three or four feet of muck and basically completely dried up during a drought.
It was completely amazing the transformation. Your pond looks like you have a decent BOW to work with. Sons pond was a complete nothing. But the point I'm trying to make is, clearing out selective trees around the area completely transformed it. It does not even seem like the same place. Because of a very dry winter and spring it is only about 2/3 full and has not made it to full pool yet. Yet the family has been swimming, boating (Jon boat kids paddle around in) and the kids kayaking in it several times already this spring. They are going to get LOTS of use out of the pond that before was nothing more than an eyesore and weedy and brushy mess.
I think you will be amazed at the transformation once you get some clearing and a little maintenance done. Best of luck in your efforts.
Here is a link to what I did with son's old pond. I need to update with new pictures as he is building a dock and we are planning on building a bridge across one portion in a few weeks.
Son's refurbished pond 
