What is the best way to increase the towing capacity of a Ford Ranger?

I am planning to use my Ford Ranger to tow a boat, but the current towing capacity is not enough. What should I do to increase the towing capacity?

I highly recommend installing a rear sway bar and heavy-duty shocks to improve stability and handling while towing.

Upgrading to a higher gear ratio, such as a 4.10 or 4.56, will increase the Ford Ranger's towing capacity and improve performance while towing.

Another option is to install a transmission cooler, which will help prevent overheating and ensure smoother towing performance.