A couple of things I've learned over our trips with little ones:
-The playgrounds/play spaces in the parks are definitely worthwhile. As an adult, it can be hard to "waste" time letting them play on a playground since we all have these at home, but Disney does some amazing play spaces, and the kids need the time and space to get their wiggles out.
-Splash pads are a must. I see you're staying at AKL, which has a nice splash pad. Some of the most relaxing moments we've had with little ones at WDW have been poolside (drink in hand) at the splash pads. It's nice knowing the kids are in a (relatively) safe space - obviously you need to still watch them closely, especially if the splash pad has one of those dump buckets, but it's a lot more relaxing than entertaining them in the big pool.
-If your kid isn't used to rides yet, try to work them in slowly. Don't go straight to Haunted Mansion, for instance, with a 2 year old. First try Small World and Peter Pan's Flight, then if kiddo is good with that, try Buzz. If they're still good, maybe try Pirates and Haunted Mansion. For rollercoasters start small - Barnstormer is a great starting point. Don't do what I did and take your kid on Slinky Dog right out of the gate

she was a little traumatized and reluctant to try other coasters as a result, and I realize now we should have started with something tamer. This is probably beyond where your kiddo is at height-wise, but still a good rule of thumb.
-Don't assume your kids will be into characters. Before our oldest's first trip, I worried she'd be freaked out and she surprised me with her bravery. She did NOT like Goofy (too big, I think - she was 2.5 at the time) and she was nervous about meeting the Beast but gathered her courage in the end and went for it. My youngest, on the other hand, is generally fearless and a major people person - I thought he would have ZERO issue with characters, but he also surprised me - he was not into it at all. He liked Cinderella, but she was apparently the very special exception.
-Bring snacks. Yes, Disney has tons of snacks to buy, but sometimes you just need a cup of cheerios or a fruit pouch at your disposal to distract them/bribe them into the stroller/any other number of random uses.
-Bring a sound machine.
-Bring zip lock bags, especially if kiddo is still in diapers. There aren't diaper genies in the rooms or in the parks, but having ziplocks on hand to zip (or double zip) those dirty diapers into makes disposal a lot easier. I've never liked the idea of just dumping a gross diaper into a regular trash bin in the park, but sealing it up hopefully helps contain it all.