#[52078635] Updating log formatting for readability

Sidekick: @rantler 
Review: @leeatchison 
FYI: @kevin-mcguire 

Updating log formatting to help readability of the logs. ISO 8601 timestamp support and shrinking each log message to one line. Used the java.util.logging.SimpleFormatter as a starting point since it does not allow for extending or configuring the formatting of log records. Kept the LogFormatter as an inner class to allow for flexibility in the future if/when we move to another logging framework: SLF4J, Logback, etc.