How can you lighten up this stove cover ?

I’m thinking to dilute some white or light colored paint of your choice and give it a very light wash over the entire surface. Depending on how light you want it, you may have to do this process more than once. I would also suggest that you let it dry between the washes. Good luck!

any type of paint you use would also cover the writing on the cover - unless you repaint the entire thing and cover up the lettering you could always stencil something else on it or even use decals

White wash it with a 50/50 mix of paint and water. As you wipe off the excess it will come off the lettering.

You would have to paint it a lighter color - white, off white, light gray, etc. Then you can find a similar stencil to add on top of the new color. Take a look at kitchen stencils Amazon offers: https://amzn.to/2NFnCg6

Painting it over and getting a stencil and re-stenciling the area would work. Or get those kitchen words at Dollar tree.

However I love it just the way it is.

A light whitewash

whitewash or paint.

I know this is off track, but it looks like you have a beautiful stove. Why cover it at all??

White wash it

You can paint over it with white paint and then add another image. You could also make handles for your noodle board. Here is how I made one and of course it can be painted https://www.homeroad.net/2020/12/diy-farmhouse-noodle-board.html