What size water tank?

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tomtheelder2020

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My 70 year old house has two water heaters. One is inside the house and serves only the laundry room and kitchen. It is a 20-years old, 40-gallon, gas unit - which is WAY overkill. It still works fine but I would like to replace it before it fails (water tank inside house failing = not good). Small gas-fired tanks apparently do not exist and tankless units are way expensive - especially installation labor. I am thinking of running a new electrical circuit for a small electric tank. The question is, what size tank do I need for just laundry and kitchen?
 
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