Verse 6 already said "Mah Tishtochachi Nafshi." Why is this repeated?
Radak: He consoles his Nefesh. Even though they say "where is your G-d?", hope to Him!
Malbim: [After assuring the Nefesh that salvation will come, he says] why do you despair, or think that it depends on me? Hope to Hashem!
Why does it say "[Yeshu'os] Panai vEi'lokai"?
Rashi: Hashem is the light of my face, and my G-d. I still have hope in Him. Why are you confounded?
Refer to 42:6:6:1-2.
Radak #1: He will bring salvation in front of me, and He will be Elokim - the nations will recognize that He is my G-d.
Radak #2: Panai is my life, like "Al Pnei Terach Aviv" (Bereishis 11:28). The salvation will come in my lifetime. He will truly be Elokai; they will no longer say to me "where is your G-d?"