Dynamic Priority List

I am trying to add a priority column to a maintenance log. Currently when I rank multiple tasks on the same level I am unable to prioritize something between them. I would like my most recently added task level (lowest row) to insert into the existing priority ranks as seen in the "what I want" example. Any advice on how to solve this would be greatly appreciated.

Logic:
E5:

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F5:

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I would like to be able to set a unique priority level for each approved row. In the example "What I Want" I want to be able to make the last approved row lvl 3 priority and then adjust all the current priorities so keeping 1&2 the same but raising 1 priority to anything previously greater than or equal to 3. Do I need to adjust ranks based on priority column and the lvl column? In the example of "What I Have" I can only set the lvl to whatever comes after all lvl 1s or whatever comes after all lvl 2s, in this example 2 or 5.

Thanks,
The Intern