Sure you can make it better, but I think what KmH is getting at is if you have the choice of getting it right in camera or doing a few hours of photoshop, get it right in camera.
Not sure how you'd do it in elements, but in photoshop you can burn and dodge like with film. I'd dodge the eyes and try to make the shadows less harsh, and the people less raccoon like.
There are other ways to go about it as well. Adjust shadows in the image. Create a mask. Etc. Etc.
Unfortunately with really dark shadows you'll hit a wall in that if the shadows are too dark, there may not be a lot of information to recover.