With boots and a sword, the optimal execution for this room is trivial -- simply dash straight up as soon as possible, over the switch and through the popos.
Without boots, many runners will elect to diagonal all the way to the left rail after hitting the floor switch, but it is possible to be up to 4 pixels away from the left rail (12E4) while still avoiding the leftmost popo, which can save a few frames on movement. Optimally, air pumping can be utilized during the diagonal movement to potentially save a few frames.
An alternative strategy is to use an item such as the hookshot, boomerang, or bow to stun or kill the leftmost popo. From Item Use Speed, the hookshot will be fastest, with slashing or using other items being slightly slower.
You must walk diagonally left at least 4 pixels, to horizontal coordinate 12F4, to avoid colliding with the two popos on the right.
If you have the boots but no sword, doing a rod dash after moving slightly left is a straightforward and efficient way to traverse the room. It will cost 10 frames in the next room, but still works out to be about ~40 frames faster than walking.
As with before, 12F4 is the rightmost horizontal coordinate that will allow for avoiding the two popos on the right when dashing through.
A red boomerang dash can also be used to stun the popo while allowing for a clean dash across the room. This is potentially up to 10 frames faster than the rod dash since it does not cost any time in the next screen; however, when the dash is done at a vertical coordinate of 18AA or lower, there is generally a 1 in 4 chance that Link will collide with the left-hand popo before the boomerang hits it (due to a frame rule), as shown in the right-hand video above. If this happens, the fastest way to recover is to perform a second dash up the left side. Note, however, that in the worst case Link's knockback will trigger the switch a second time.
Because of the risk mentioned above, it's recommended instead to start the red boomerang dash at 18A9 (shown above) or higher, which will lose a few extra frames but guarantee success.
With the blue boomerang, the lowest "safe" vertical coordinate is 1888 (and below 1894 the boomerang will never hit the popo in time). When walking upward Link triggers the switch at coordinate 188A or 188B (depending on subpixel movement), so starting the item dash 2 frames after the switch animation finishes will always be safe.
The strategy is significantly slower than the red boomerang version, but still saves roughly ~20 frames over simply walking around the popos.
A byrnadash can be used to match the screen time of the boots+sword dash, but will cost 22 frames in the next room, making it overall slower than most of the other itemdash strategies above (other than the blue boomerang dash). The strategy costs 16-20 points of magic in total (quickswapping off of byrna towards the end of the dash can save a small bit).
A capedash can also technically be used, but is largely unviable for two reasons: