Good grief. Agree with others that you need to sand/scrape that down at least. The bulge at the bottom where it slumped is ugly and looks dodgy, and the lack of flexible exterior caulking between the door trim and the wall is not going to weather well. You can get small patch batches of stucco at the hardware store, that should be a suitable base for any exterior paint. Finally, put a small potted plant in front of it when you're done, because you'll need it.