As far as I know Sugar Loaf doesn't have MK views. However, I do recall that maybe there are one or two that have a slight MK view. The building itself is actually behind Conch Key which is directly in front of the lagoon and MK (even though only a small amount of rooms in this building have MK views).
I can't help you with the best room in Sugar Loaf b/c I have only stayed in Sago Cay and Conch Key. However, the rooms are all pretty much the same EXCEPT for a few of the corner rooms that are larger (550 sq. feet). Hopefully Cali D will be able to help you out further.
Hope I helped a little.