。
She got excited watching the boxing match.
Literal
She [topic-は] that boxing's match [object-を] watched-and got-excited.
興奮する ('to get excited, become aroused') describes a strong emotional or physical activation — heart racing, blood up, nerves fired. It's stronger than the casual わくわく (anticipatory excitement); 興奮 implies an actual physiological surge. The の links ボクシング and 試合 in 'boxing's match', a compound that English would render as one word ('boxing match'). Japanese frequently uses noun + の + noun where English compounds two nouns directly. The ~て見て pattern chains the watching to the excitement as cause-effect — Japanese routinely uses the て-form to link a sensory or perceptual event to the emotional reaction it triggers.