I dont know if I am the best one to answer this, as I still have a lot to learn, but I too use elements 5, and this is what I do to make the eyes pop:
I duplicate the layer twice.
I make the top layer so it is invisible, as I work on the middle layer.
On the middle layer I boost the contrast and sometimes brightness
Then I sharpen that layer twice at least by going to "enhance" and "unsharpen mask". Ignore the rest of the pictures and just look at the eyes, the other part of the picture will look way to sharp, but the eyes will look good.
After I have made those changes I make the top layer visible, and then I choose the eraser tool. Zoom up. Choose a soft eraser brush and erase the eyes from the top layer.
There you have it, they eyes are sharp and pop...one thing I did learn though is when you take a picture, make sure to focus in on the eyes, it really helps with the outcome of the picture.
Here is a before and after:
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