Annoyingly similar buttons with very different functions
One of the buttons laps the stopwatch, the other resets the entire session clearing all lap markers and stopping the counter. Better not forget which is which, especially given that you're probably timing something in the physical world not paying much attention to your phone...
Yeah, the circular arrows convey 'reset' to me, but the stopwatch icon is ambiguous. Two buttons are visible inside the stopwatch icon, making it unclear what it will do. It should either use the word 'lap' or use a less ambiguous symbol like a checkered flag (finish line).
Yeah I think it's the fact that both are circular icons inside circular buttons of the same color in the same relative position. The reset icon itself is fine.