An approach is presented to enhance the isolation of a two-port Multiple Input Multiple Output (MIMO) antenna using a decoupling structure and a common defected ground structure (DGS) that physically separates the antennas from each other. The antenna operates in the 24 to 40 GHz frequency range. The innovation in the presented MIMO antenna design involves the novel integration of two arc-shaped symmetrical elements with dimensions of 35 × 35 × 1.6 mm3 placed perpendicular to each other. The benefits of employing an antenna with elements arranged perpendicularly are exemplified by the enhancement of its overall performance metrics. These elements incorporate a microstrip feed featuring a quarter-wave transformer (QWT). This concept synergizes with decoupling techniques and a defected ground structure to significantly enhance isolation in a millimeter wave (mm wave) MIMO antenna. These methods collectively achieve an impressively wide bandwidth. Efficient decoupling methodologies have been implemented, yielding a notable increase of 5 dB in isolation performance. The antenna exhibits 10 dB impedance matching, with a 15 GHz (46.87%) wide bandwidth, excellent isolation of more than 28 dB, and a desirable gain of 4.6 dB. Antennas have been analyzed to improve their performance in mm wave applications by evaluating diversity parameters such as envelope correlation coefficient (ECC) and diversity gain (DG), with achieved values of 0.0016 and 9.992 dB, respectively. The simulation is conducted using CST software. To validate the findings, experimental investigations have been conducted, affirming the accuracy of the simulations.