I will not talk about hosting in my reply. However there are some inputs from end for a wordpress website owner.
1. Use plugins that you need or that your website depends on, never use plugins that are not useful or not needed. Even, if they are deactivated. Please remove or delete them permanenetly.
2. Use all rounder plugins, I have seen too many people in my experience, who complain on server while the problem is overloaded wp instance. Some people use two SEO plugins, two firewall or security plugins, three social media sharing plugins and start complaining. This is quite common with most newbies and intermediate users as well.
WordPress uses files as well as db. If your db is crossing its minimal size, expect slow websites, slow or downtime on website and lot more. People will think, adding RAM or buying dedicated server will solve issue. No, its not going to solve anything, you just burn your money nothing else. Unless you fix WP issues nothing will change.
3. Use image optimization plugin that is low on resources like WP Smush it and DB Cleaner and optimization plugins like WP Sweep or WP Optimizer these are quite stable plugins and does the job nicely.
4. Manage your wordpress, if you want a fast website learn to manage it and keep it good. Avoid themes that are poorly coded, do not add whatever plugin you find and bloat your WP
5. Install a caching plugin, w3tc works wonderful, if you properly configure it.
Right now you are using cloudflare, but let me tell you we have seen cloudflare accounts are compromised. One person approached us with cloudflare on his website redirect to torrent website, he is not monitioring his cloudflare account, so recently when cloudflare had DDos attack, his account is compromised and it was redirecting to torrent site, until he found it and then changed back to server dns.
So, when using cloudflare free account keep an eye. Also keep subscribed to their newsletter and updates to know latest things happening with their systems.
As members suggested cloudlinux with lightspeed with make tremendous difference in performance. But I think its an overkill for your budget already as you are using VPS. If your budget allows consider upgrading to cloudlinux atleast and see the difference.
SSD will also make a lot of difference, and when SSL is used on HDD and normal Apache its highly possible for slow intial loadtime. So your underlying stack makes a huge difference. As I said WP optimization is also crucial.
Hope this helped you, thank you.