Efficient recycling of mixed plastic waste remains challenging due to the intrinsic immiscibility of constituent polymers, which compromises mechanical performance. Here, a synergistic compatibilization strategy combining reactive maleic anhydride–grafted low-density polyethylene (LDPE-g-MA) and non-reactive styrene–ethylene–butadiene–styrene (SEBS) is demonstrated to enhance interfacial adhesion and mechanical properties of LDPE/PS/PA6 blends. The cooperative action of LDPE-g-MA and SEBS minimized mutual interference and improved compatibilization efficiency at both LDPE/PA6 and LDPE/PS interfaces. In the LDPE/PS/PA6 (40/30/30) blend, the bicontinuous LDPE/PS morphology with PA6 encapsulated in PS transformed into an LDPE matrix containing salami-like core–shell domains with mixed PS/PA6 cores upon addition of 5 wt.% LDPE-g-MA and 5 wt.% SEBS. In the LDPE/PS/PA6 (70/15/15) blend, the PA6@PS domains evolved into distinct, refined salami-like structures with inner PS cores and interfacial localized PA6 domains upon addition of 3 wt.% LDPE-g-MA and 3 wt.% SEBS, increasing notched impact strength from 3.3 to 18.2 kJ·m−2. In the LDPE/PS/PA6 (15/15/70) blend, LDPE@PS core–shell domains converted to salami-like PS@LDPE structures with 3 wt.% LDPE-g-MA and 4.5 wt.% SEBS, enhancing impact strength from 2.9 to 11.7 kJ·m−2. This work offers an effective, industrially relevant route to tailor morphology and upgrade the performance of heterogeneous plastic waste toward sustainable recycling.