At the very minimum, the Palestinians will regard any state that doesn’t include all of the West Bank including Jerusalem (based on the 1949-1967 borders) as being simply a transitional state en route to a Palestinian state based on the 1914 borders (i.e. an Islamic state including everything between the Jordan and the sea).
A single state solution might work if it includes at least all Arabs in the region (and perhaps including Turkey and Iran), such that Israel is recognizing that it is part of what is securely an Islamic state, with Israel preserving autonomy for itself including its own military. Such a confederation would enable the Palestinians to stop being state-less. However most Israelis would not accept the strictures of living in an Islamic state (e.g. no gay rights).