It would help to know how old your laptop is.
Anything on Vista or newer should have no problems with Morrowind, even with a bunch of usual mods.
But you'll need a powerful "gaming laptop" to use exernal things like MGE to its fullest.
With standard mods, you can use basically everything.
And except for very crowded areas (the number of NPCs and/or meshes) you should be fine.
Texture replacers also have a very small impact on performance. You should be fine with almost any of them, unless they are gigantic, and most are not.
High detailed meshes is what you want to avoid. That is the biggest hit on performance for standard mods. (Trees and grass mods being the main things to look out for here)
External programs like MGE is different though. Although you can use MGE just for the MWSE, using it for Distant Land or shaders requires some PC muscle.