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Never go cheap on exterior renovation. It will cost you more money in few years.
I would hesitate doing stucco for an older house. Cracks could form if further settling happens. I’d go with siding personally as it would be more forgiving. Also, get at least 2-3 quotes.
Hardie and similar manufacturers make stucco-like panels.
What is the architectural style of the existing home and other homes in the neighborhood? That should give you most of the info you need to make a choice. Also, doing just one wall is going to look strange - consider that you’ll
likely end up doing the entire exterior for continuity’s sake.