Honestly, I would rather love to see a Majora's Mask remake than a Majora's Mask sequel. The biggest reason about this is because of where could the plot go? Link has visited all of Termina, and Link destroyed the only source of evil within Termina.
I could maybe see some sort of spin-off RPG where you can perform quests/tasks for the people of Clock Town and the rest of the regions (your standard fetch and retrieve style quest, for example), but aside from that, I can't really find another game with Termina in it lest some form of evil come in from another world.