Should I fix my phone screen or buy a new one?

I dropped my phone last night and I'm debating on what I should do. The screen is cracked on the top but other than that it works fine.
I have a 16gb iPhone 5s and I'm trying to outweigh the good with bad between keeping it or just getting a new phone. I'm also trying to balance the cost between tho two and see which one's more worth it.

Good: I've kept it in amazing condition (up until now lol) for the 3 years that I've had it and even though the screen's cracked, it still works fine. It's processing speed is pretty fast, it still takes nice photos, and it hasn't ever lagged on me.

Bad: Because it's an older model with 16 gb, I'm almost always pretty frustrated that I have no storage room left. The other downside that's been heavily weighing on me is the fact that because it's the oldest iPhone out there right now, I'm worried about when they'll stop making updates for it and I can no longer update it.

Should I just get a new phone instead of fixing my current one?

I'd buy a new one

Since Apple may discontinue updates, it probably wouldn't be worth the cost to fix it. If you could fix it for less then $50, then fix it. If it costs more then $100, don't fix it (remember, the battery may need replacement soon).