It's wonderful to have food cooked right in front of you.
Literal
Eye [poss-の] before [at-で] cook receive [nom-の] [topic-は] wonderful [copula-だ].
目の前で ('right before one's eyes') is a common spatial phrase. 料理してもらう ('have someone cook for you') uses ~てもらう — receiving a favor. のは frames the whole experience as the topic. 素敵 ('wonderful, lovely') is the predicate.