Windows Media Player 9 was released 9/24/2002 -- it is in BETA (Win95 is NOT supported/recommended and it probably will not work on your system).
http://www.microsoft.com/windows/windowsmedia/9series/player/relnotes.asp
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What you have is the proper version for Win95. Media Player 6.4 for Win95 and for WinNT. It looks older because your OS is older.
You do not give your system specifications... if you meet the minimum memory and megahertz requirements for version 7.1 (go to allmedia player downloads and checkout the Win98 version)... it won't hurt to try it.
But at best, in your situation, I'd try the 7.1 version that is available for download at the above site (that says for Win98 but again, if you meet the minimum requirements, then you might give that version a try). I would not recommend version 9 with your computer.