From Gorak Shep, you can trek to the Everest Base Camp which takes around six hours for the round trip. There are not much exciting views to be seen from the base camp. If you want to have best views of the mountains, you might want to go to Kala Patthar (5545 meters). Then you could climb down to Lobuje after trekking to either the Everest Base Camp or the Kala Patthar.
Please read Everest Base Camp Trek for comprehensive itinerary.