The Merseyside club lost to Southampton in the EFL Cup semi-final, while Wolverhampton Wanderers knocked them out of the FA Cup following their 2-1 win at Anfield in the fourth round.
Klopp and his men have only Premier League to focus for the remainder of the season, with 13 more league fixtures left in this campaign. Liverpool registered their first league win in 2017 when they defeated Tottenham Hotspur 2-0 at home.
The Reds are sitting fifth in the table with 49 points after 25 games, leading sixth place Manchester United by a point and trailing Tottenham and Arsenal by a point, who are sitting in third and fourth sport respectively. Manchester City are second in the table with 52 points.
With Chelsea looking likely to win the title, five other teams will be fighting for a place in the top four. Molby believes a failure to qualify for next season's Champions League will be a disappointment for Liverpool.
"I would be disappointed if we didn't end the season in the top four. We are better than Manchester United, we are better than Arsenal," Molby wrote in his Liverpool Echo column.
"With just 13 games of the season remaining, it's time to take stock of we have done so far this season – and what might still lie ahead. Some people will say that because Liverpool were top of the league in November, the consolation prize of finishing in the top four would be a disappointment. Let me tell you, it wouldn't.
"At the start of this season, qualifying for the Champions League was the only target, and achieving that would represent a good season.
"It's going to be difficult, we all know that. You have Chelsea out there on their own, but after that, five teams fighting for three spots. Anyone can finish second, anyone can finish sixth. It's that tight.
"Despite last weekend's result, I'm not sure there's much between us and Tottenham. Manchester City have some good players, very good players, but their form has been up-and-down.
"So I reckon not managing to finish in the top four with Spurs, City and Chelsea would be a real kicker. With the fixtures we have left, we can do it," he said.