Actually chuckling out loud. Since the phrase "LOL" has lost its meaning, there is a need for an acronym that actually means that one has literally laughed out loud in real life. However, since it is rare to flat out laugh out loud because of reading something that someone has typed, it is more realistic and accurate to say that one has "actually chuckled out loud."
Herschel: why did the chicken cross the road?
Sandee: i dunno lol
Herschel: to get to the other side
Herschel: ya that was funny lol wasn't it lol
Sandee: o hey dude, my hamster died lol
Herschel: that sux dude lol
Sandee: well i shot him lol
Herschel: lol uh oh
Sandee: j/k lol
Herschel: phew lol, that's a relief lol
Herschel: remember on the simpsons when moe said joey joe joe junior shabidu is the worst name he's ever heard?