I have a feeling the meter was there from the previous service, it looks a bit dated... (I don't think Westinghouse is doing meters anymore.. someone correct me if I'm wrong)
Instead of that goofy SE-R cable loop thing, a chase nipple between the meter and panel would've been a nice start.., but the flat wall space where everything is piled onto doesnt appear sufficient, move the panel 2 feet to the adjoining wall (which looks like it's turning to lime. Is this near the ocean?)
I'd likely discuss having a plumber move the 2 pipes to overhead.. A little cutting and threading on their end could save some headaches on yours