This is a visually impressive submission, with good animation and sprites which telegraph attacks/blocks pretty well. The characters have a range of attacks, giving the game some form of depth. I can see the foundations of a marketable game.
Some improvements would go a long way with this submission. The first being the control scheme which are quite awkward, for player 1 especially. Think about your bindings carefully, if you are going to have the binds surrounding WASD for example, are they in a way that would minimise the amount your hand has to move or limits the actions a player can take? Secondly, why is jumping a thing? Because everytime that I had a character jump, most attacks from an opponent sends me flying and taking damage. Could you have done something like a quick dodge, or a Roll to negate damage instead?
All in all, this is a strong submission that I feel with some attention to detail and expansion could be marketable. Well done.