Can this plant be saved? Also, trimmed down to where it can be smaller with the full green top and less stem?
Your plant looks like a dracaena “corn plant.” Dracaena propagation is usually done in the spring and summer. However, if you want to work on you dracaena right now, during the winter, here are some tips on how to prune and propagate a dracaena.
Using a sharp, clean scissors or pruners, cut off the leafy section at the top of the plant, include about 7″- 8″ of stem. You can cut the remaining bare stem back as far as you want; new growth will develop directly below the cut in the stem in about a month or two.
Remove all but 5 or 6 leaves from the cutting. The leaves that remain provide the energy for the cutting to produce new roots. Make a diagonal cut at the bottom of the stem; this increases the area for root development. Dip the cut end in a very small amount of rooting powder that contains a fungicide if possible. Plant the cutting in a small pot (with drip holes in the bottom) of very coarse sand mixed with some lava rock or perlite. You want the soil to dry out very quickly or else the developing roots will rot.
Place the new plant in bright indirect light, but no direct sun. Keep the soil barely moist. Give the cutting a small tug after about 6-8 weeks. If there is firm resistance, roots have developed; if there is no resistance and the stem appears loose, try again in a few weeks.
You can read all my care tips for growing this plant in the Popular Houseplant section of the website.