What about something like:
-some water spells (eg: rain) apply "doused", then some air and/or ice spells could consume the douse to freeze the target, with a duration based on the number of "doused" stacks.
-ice spells apply the "chilled" effect, slowing the target (could be either a snare or an AP reduction). Then some "Shatter" spell would consume "chilled" stacks for some burst damage. "Shatter" could be an earth spell for thematic reasons.

Having some debuffs result from spell interactions only would be pretty nice too. Like, "poisoned" (stats debuff) + "burning" (dot) = "acid" (armor reduction).

I think another benefit of having such interactions is that it gives more synergy between the different "class", assuming of course the warrior and rangers skills are given elemental weapons and/or abilities.
Eg: Warrior with a "Sword of the Cold North" rush in, tank and tries to hit as many targets possible (possibly with whirlwind) to debuff them with "chilled". Meanwhile the mage, after having buffed the warrior with some fire spell for a speed bonus and increased resistance to cold, could take benefit of the "chilled" targets to either "shatter" or "freeze" them.
Having ennemies have various elemental resistances and immunities would possibly prevent the existence of an "OP-combo-that-works-in-every-situation-and-makes-the-use-of-anything-else-pointless".

Also, because no spell is OP on its own, there's no need to have crazy long cooldowns, everything is more or less spammable, but without proper setup/use of the context nothing is especially good.
And thus there's no need to rely on a "resting" system, which can be possibly abused unless it's afflicted by tons of restrictions.

Ok I'm gonna vent a bit here so feel free to skip it:

Maybe the D&D rules are fun in pnp sessions -I've never played with them- but I think they're the worst thing that ever happened to computer rpgs. Especially the magic system with it silly "per day" limitations that force players to sleep after each and every fight. So in the end, in these games, all my characters do is kill and sleep, kill, sleep, kill, sleep. Anytime of the day, in any place, be it sewers, the wilderness, some ancient castle. So much for immersion.