Your i++ in the console.log statement is modifying your i variable.

i++ is equal to i = i + 1.

Replace i++ with i, which will evaluate correctly as postfix increment will return the value before the modification which would just be i.

This works:

var i = 0;

function myLoop() {
  setTimeout(function() {
    //code below
    console.log(Date() + ' and count is ' + i);
    //code above
    if (i < 20) {
      myLoop();
    }
  }, i++)
}
myLoop()

i++ is equal i = i + 1; But when you call console.log(i++), first thing wil be console.log with Old value, and after increment your value.

You raise the timeout with every iteration by on millisecond. Is that what you wanted?

https://www.w3schools.com/jsref/met_win_settimeout.asp

setTimeout(function, milliseconds, param1, param2, ...)

var i = 0;
function myLoop() {
    setTimeout(function() {
        //code below
        console.log(Date() + ' and count is ' + i++);
        //code above
        if (i < 20) {
            myLoop();
        }
    }, 1)
}
myLoop()