You need to clearly break down the scenarios that you need to handle, then code for those.  You need to distinguish between 4 file states.
It helps for maintainability when you clearly define parameters for each one of those states, separately.
The placement of the "-1" in your ls statement is an error.  Also, to force one per line, there is no need to specify that, which is the default when directed to a file. "-1" is only needed for output to the terminal.
So here is the proposed solution to your problem:
#!/bin/bash
filepath="/opt/alb_test/alb/albt1/Source/alb/al/conversion/scripts"
distro_list='abc@testmail.com,def@gmail.com'
THRESH_file=5000000
THRESH_path=10000000
SIGNATURE="
Me
MyPosition
MyEmail"
cd ${filepath}
#Sending Email
ls *.xlsx > test.txt
while read line
do
    if [ -s "${line}" ]
    then
        SIZE=$(stat --printf="%s" "${line}" )
        if [ ${SIZE} -lt ${THRESH_file} ]
        then
            SUBJECT="-s 'Attaching files under 5 MB'"
            MSG="Hi, Sending the undersized file."
            ATTACH="-a '${filepath}/${line}'"
        else
            if [ ${SIZE} -lt ${THRESH_path} ]
            then
                SUBJECT="-s 'File size at least 5 MB but less than 10 MB'"
                MSG="Hi, Sending the midsized file path:  '${line}' [${filepath}] "
                ATTACH=""
            else
                SUBJECT="-s 'File size at least 10 MB'"
                MSG="Hi, Sending the normal sized file."
                ATTACH="-a '${filepath}/${line}'"
            fi
        fi
    else
        SUBJECT="-s 'File is empty!'"
        MSG="File '${line}' is empty [${filepath}] ..."
        ATTACH=""
    fi
    echo -e "${MSG}\n${SIGNATURE}" |
        mailx ${SUBJECT} ${ATTACH} ${ditro_list}
done <test.txt