Hm... Germany is under a more moderate, non-Nazi leadership (military junta, perhaps?), keeps a far more moderate re-armament pace and doesn't annex Austria and the Sudetenland/Czechia, but signs something akin to the M-R pact with the USSR, where Germany gets the corridor, and the USSR all of Poland.
Later the USSR annexes the Baltic countries, kicks off the Winter War, and makes moves on Romania and Turkey, prompting the Western Allies to declare war.
At some point the USSR and Japan form an alliance of convenience, and the US is drawn into the War by some fuckup in the Pacific.
While fighting takes place in Europe (Finland), the Middle East, India, and Southeast Asia/Pacific, Germany quietly gobbles up Austria and the Sudetenland/Czechia now that the WA are busy. With the US in the WA it doesn't want to do anything to provoke them, so it sits back, mostly content with its "gains", and waits for the dust to settle.
(Alternatively, for ultimate Irony, Germany ends getting drawn into the war by a surprise visit from the Red Army.)
Can't think of anything for the Hungarians or Italians, though.
- Kelenas