You can click on the Edit Button on the Top Right Corner on Order View Page. If you proceed, the current order will be canceled and a new one (copy) will be created with same Order Details and Products but different Order Id in which you can update Quantities, Add/Delete Products, Apply Coupon Code, Update Shipping/Billing Address and Payment Method
Moreover, You can perform following actions on a pending order:
- Put on Hold
- Cancel the Order
- Generate the Invoice
- Ship the Order