Mri shows I have severe central canal & bilateral recess stenosis and forminal stenosis on both sides/disc protrusion what is best option for my pain?

Be Conservative. Conservative treatment is almost always the right first choice for back pain. This might include muscle relaxants like Robaxin, (methocarbamol) NSAIDs like Ibuprofen, and epidural or facet injections, depending on the type of pain. If these fail, then surgery might be helpful. The key then is to choose the right surgery for your specific condition and symptoms. A good neurosurgeon can help you with this.
Spinal stenosis. You don't say if there are numbness or weakness problems or just pain. Assuming it is just pain, injected epidural steroids work best but orals may also work. Adjuvants such as Gabapentin or pregabilin are very helpful. Core strengthening after pain reduces is a must. If symptoms worsen or don't resolve, a surgical eval is indicated.