Short version: the reflections should just be a flipped sprite with a constant offset from the object
Long version: given how the sprites of stuff in the game look, I'll assume the camera is very far above the room, slightly south of the centre. If you imagine yourself looking at a reflection of something in front of you, in a mirror on the ground in front of you (between you and the object), you'd expect the reflection to also be between you and the object.
The angle before reflection should be the same as the angle after reflection, so whatever the angle is between the camera and the floor should be the same as the angle between the floor/reflection and the original object.
However, because the game has no vertical depth/perspective, the angle between the camera and the floor is always constant, so the reflection should always be a constant distance from the object.
The current implementation is actually closer to a standing mirror than water reflection (if you swap where the object and the reflection).