Nooooo!!!!! So much work getting that in. Taking one cabinet out is annoying, but not a big deal. Any alterations to the cabinet fitment would just ruin the nice straight line. It's the one all the way to the right.
What about cutting floor to drop? Assuming 3/4" subfloor or even at half. Cut that out, sister on new wood to existing joists so that new subfloor is flush with top of joints.
That job's done. It was just 5 screws and popping off some trim. Then just filling the holes with 2 coats of mud, sand and paint. Also touched up several other spots that got roughed up and hung the paper towel rack.