Yes to putting a send on each channel. Perfect space is the best reverb for acoustics - my opinion. Something short should "gell" all the instruments into the same space.
Not knowing the structure of the song, I would start with the bass centered. the guitar (if rhthym) and accordian (if rhythm) should have the channel tools on each track to put them into a specific space - LR. That will keep the stereo output on each channel from spreading to each master output. Channel tools is the answer to that panning problem. Don't be afraid to go really wide with it. The flute (I imagine) is a lead instrument and should probably go in the middle. You might actually want to put a separate reverb on it - depending.
So, guitar L, bass and flute up the middle, accordian to the R. The L/R placement will depend upon how much rhthym the instruments are part of. If the mix sounds unfocused, simply move the L/R instruments more to the center. If it sounds crowded and conjested, short of re-writing the parts widen them. A little compression on the tracks, too, can "set" the instruments volume wise after using automation. Finally, if one of the side instruments takes a solo, simply slow pan it to the center, just like a performer will step out front to take theirs. It will have a little more volume, too, coming from both speakers.
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