Hi guys, I was attempting to take off my wheel to install spacers when I realized one of my lug nuts was stripped. I attempted to chisel it out and simply mangled the lug nut in the process. Anyone else have this happen to them? What should I do? Would drilling out the stud work? Should I ask a shop to take care of it? Thanks guys

 

Hard to tell from the picture, but if there is any material left to grab try using a reverse threaded socket (should have been first decision after seeing the stripped nut).
If you can't grip anything then drilling it may be the next best option.

With the wheel off the ground, remove the other wheel nuts and then drill this stud with a drill the same size or slightly larger than the stud. Try not to drill into the wheel, but it should be pretty obvious once you've got through the lug/stud. The stud is easy to replace once the wheel is off.