Translation:What do I drink?
There aren't any actual verb tense conjugations, unlike that Latin-Germanic languages. In Chinese, you can say that you're doing something by adding 在 in front of the verb. But in normal conversation, even without 在 people will still assume you're talking about a present action. If you add 了 behind the verb on the other hand, then that becomes a past action. If you want to talk about something in the future, then add 會 in front of the verb. These are applicable to all the verbs that I can think of on top of my head.
The only things that tend to stump foreigners are when you start adding conditions in your sentence, such as "What time did you eat? What time will you eat?" But this is quite easy, just put the time directly in front of the verb itself, and the problem is solved. TBH it's kinda hard to just think of issues that people might have so feel free to ask.
I am not sure why your comment appears here, in the context of this particular exercise; because, the question in this exercise is a "what" question rather than a "yes or no" question, and therefore does not involve the interrogative particle 吗 ("ma").
The 么 of 什么 is pronounced more like "me," (not the English word "me" but "me" in pinyin) and is part of the word for "what;" whereas, the interrogative particle 吗 (pronounced "ma") is appended to a sentence to indicate a "yes or no" question. 我喝什么? is not a "yes or no" question, and accordingly does not involve 吗 ("ma"); rather, it is a "what" question, and accordingly involves the word 什么 ("shenme"):
我喝什么？= ”What am I drinking?" (or "What do I drink?")
我喝吗？= "Am I drinking?" (or "Do I drink?")
There is no "should" in the question; the question is simply "What do I drink?" (or "What am I drinking?") rather than "What should I drink?" To ask the latter question, you could use the word 应该 (pronounced ying1gai1), which means "should," "ought to," or even "must" in Chinese:
我应该喝什么？= What should I drink?
我喝什么？ = What do I drink? (or What am I drinking?)