The poem opens with a complaint, saying that the world is out of whack and that people are destroying themselves with consumerism ("getting and spending").
"The world is too much with us" sounds odd, and could mean several things. It could mean that the world – life in the city, contemporary society – is just too much, as in "This is too much for me, and I can't take it anymore."
The "world" might refer to the natural world instead of the city, in which case it would mean that humanity is so busy that they don't have time for the natural world because "it's too much."
It could also mean mankind or society is a burden on the world, as in "there's not enough space for both man and the earth" or "mankind has upset a delicate balance."
"Late and soon" is a strange phrase. It could mean "sooner or later," or it could mean we've done this recently or in the past ("late") and will do it in the future as well ("soon").