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As has been pointed out the limited miles driven means the truck doesn't consume very much and therefore also doesn't benefit much from modifications for economy. The more you drive the more efficiency counts. I would not add a hybrid system or HHO. The hybrid will never show payback and the HHO will never show any benefit.
To get a return on your investment you'll need to be conservative and judicious. Make sure the engine runs just as well as it possibly can. Changing the ignition advance curve on smog-era can often show power and economy increases. Make sure all the wheels are pointing in the right direction with a careful alignment. Depending upon the rear axle ratio you can probably installed a used 3rd member or axle assembly to reduce engine RPM and increase fuel economy, but you'll have to shop carefully to ever see the money returned. If you're in need of new tires you can also reduce engine speed with taller tires.
But better by far than an F150 is a smaller pickup if it meets your needs.
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