Except in a 1 br. the living room
is someone’s bedroom space - the folks who sleep on the sleeper sofa & possibly on the single chair/pull down.
Much as I love the living room space & in villa laundry in the 1 br.s, I’d opt for 2 studios in OP’s scenario simply because there’s extra beds. 1 br. has 1 king bed in the bedroom & space for 3 (usually) to sleep in the living room. 2 studios will have 2 queen beds & 2 sleeper sofas & possibly 2 single sleeping surfaces. Or, even better, if I had enough points then a 2 br.