Is there any possibility of creating new universe after dooms day.
What does Islam say about this?
In my knowledge Qur'an does not speak any new creation after day of judgement. Qur'an speaks of a renewed creations, that is raising of the dead from graves, or raising of dead who are cremated. Every one who is dead will be brought to life to take an account of what he has earned(Whether good or evil). Our main concern should be that if we do righteous acts, we will enjoy in the kingdom of God and in his presence. That will be indeed an eternal bliss which no eyes or imaginations can grasp in its reality or totality.
As for the matter of new universe, it is Allah will what he will do after day of judgement, he is involved in new affairs regularly. But his promise is that we shall have heavens or hell. That is for sure, why waste time in thinking about issues which are not helpful for us. Satan is ever close to misguide us, we should seek God's refuge from the irrelevant whispers of Satan.
In my opinion, this creation is indeed the best, as also affirmed in Qu'ran and Hadeeth. It is potentially possible that God can actually make more better creation than this one if he wished to create. He wills and It is :)
As far as I know Quran doesn't answers questions like how afterlife look.
Rather Quran says, mankind have given a little knowledge about his own soul:
And they ask you, [O Muhammad], about the soul. Say, "The soul is of the affair of my Lord. And mankind have not been given of knowledge except a little."(17:85)
From scientific point of view, there are lots of possibilities:
Everything is made up of wave or is made up of solid matter or reality may merely illusion formed by 5 senses.. etc
See Double Slit Experiment which shows the possibility of matter as wave.
I think it is better not to discuss about subject like this. Because we have only very less knowledge about it.