Wait for Improved Cameras
If you want a smaller iPhone, but aren't thrilled with the cameras on the iPhone SE (or another older model), you'll want to consider waiting for the iPhone SE 2.
The iPhone SE features solid rear and front-facing cameras. The 12‑megapixel camera in the rear comes with 5x digital zoom and bells and whistles like burst mode, Live Photos, Auto HDR, and face detection. It can shoot 1080p HD video at 30 fps or 60 fps. The 1.2-megapixel front-facing camera shoots decent selfies.
iPhone SE 2 camera rumors haven't firmed up yet, but we can tell you this about the device's rear and front-facing cameras: They will be better than the cameras on the iPhone SE and they'll blow the cameras on the iPhone 5s and iPhone 5 out of the water. Plain and simple.
If you aren't thrilled with the iPhone SE/iPhone 5s/iPhone 5 cameras, consider waiting or looking for an alternative.