Waterproof access door for electrical panel
That enclosure is a NEMA 3R, it is designed to be out in the weather. It should be set out to the outside edge of the stucco or cement siding. With it inset, water will get inside the structure because you need to open the panel by Code. Code does allow for a box to hang outside the structure and have a hole drilled in the outside bottom for drainage.

Since your panel is inset, you need to make a water tight cover that can be removed without tools. Since it looks to be your main disconnect, it will have be labeled, and in most cases the meter must be visible for the power company to read. I would never install a panel like this and if you have a contract I don’t think this meets most of the service panel requirements in the states I have worked in. A cover that can be opened without tools may be legal but your electric utility may disagree because the meter is not fully exposed.