As Marcoluz says - change the speakers. Most big brand entry level combos are fitted with the cheapest Chinese designed speaker the company could lay their hands on and they really are junk. The speaker is one of the costliest components in the box and one most people do not think about. A better speaker will make a bigger change than all the other mods discussed in this thread put together. 2 x Celestion VT10 or G10 Vintage and that Laney will be in a different league.
On a related note the Celestion Seveny 80 used in so many China sourced cabs and combos is hard and glassy with no real bottom end or overdrive warmth. It is intended to be an one size fits all speaker which in the end means it doesn't really do anything well. If you have one of these and are looking to buy a new amp rather just change to a Celestion V or A Type for a massive jump in tonal quality.