Those bars need to be rotated downward probably 20 degrees almost to the point where the bottom of the drops are almost parallel to the ground (about 10 degrees short of parallel). Those look to be Weinmann calipers and levers, but I guess I didn’t realize how much they standoff from the bars. A more modern brake lever would be much closer to the bar overall.
Once you rotate the bars, you look to have an inch or so to move the brake levers up towards you to the point where the hoods will pretty much be parallel to the ground and comfortable for your hands.