This doesn't need any extra extension, just use the default VSCode editor.
Go to Command Palette (⌘ ⇧ + P) and open Preferences: Open Keyboard Shortcuts (JSON) menu.
Inside the JSON file, add this object:
keybindings.json
{
  "key": "ctrl+alt+l",
  "command": "editor.action.insertSnippet",
  "when": "editorTextFocus",
  "args": {
    "snippet": "console.log({ ${1:${CLIPBOARD}} }, '${TM_FILENAME} line ${TM_LINE_NUMBER}')"
  }
}Note: This is for macOS. You can change the keybinding to which you prefer.
You can also customize the snippet format to your liking. VSCode has a bunch of magic variables that you can use!
Usage
- Copy the text that you want to log. Notice the usage of 
{${1:${CLIPBOARD}}) - Press 
Ctrl + Alt + Lto insert the console log statement. 
