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Define "slow". Its a full-size four-wheel-drive, not a two-seater sport coupe.
With that said, is it carburated or EFI? (1986 has the potential to be either). Typically, the EFI units gain the most from improved exhaust flow. Headers, high flow catalytic converter and muffler are a good start. After that it just depends upon how much you really want to put into it.
I have an 86, worn out 5.0 efi, 4 speed running 35" tires & 3:55 gears & I don't consider it "slow". It will run 70 on the hiway, and climb most rocks I want to get over.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.