How much water is getting into the well? If it's not a ton of water you could do a variation of this modification below. You have some bolts that might get in the way depending on how tall you make the raised area.
having owned an 18 . . . I would highly recommend making the splashwell gate permanent and water tight up to at least 6 - 8 inches. The floor baitwell is bad news if you ever have problems with your bilge pumps.
