Let $M_n(\mathbb{R})$ the space of all real square matrices of dimension $n$, with the equivalence relation E, defined as: 2 matrices are equivalent if and only if they have the same determinant.
Then what is $M_n(\mathbb{R})/E$ ?
My idea is that it is some projective real space, as you can associate a direction to each determinant with the arctan map, and thus it might even be $\mathbb{P}^{n^{2}-1}$.
As a physicist, I never had learned anything about quotient spaces in my courses, so I have no idea how to get the structure of the quotient space.
Generally an equivalence relation partitions a set into equivalence classes. In your case we group together matrices with the same determinants in some small set and we consider the collection of such sets.
Most students first start with a simpler quotient like $\mathbb{Z}/3 \mathbb{Z}$ this is the set of all integers modulo 3, so two numbers are the same if they differ a multiple of three. This maps all integers to the three numbers $0, 1, 2$ which we call representatives of their equivalence class (Or also the remainder upon division by $3$). Now instead of numbers, think of matrices as representatives of a certain value for the determinant, we can pick any two matrices that have the same determinant to represent a certain class (read set of matrices grouped together).
As an example: consider your equivalence relation $E$ on the set of square matrices for $n=2$. Then we can say that:
$$ \begin{pmatrix} 1 & 1 \\ 1 & 0 \end{pmatrix} E \begin{pmatrix} \pi & 1 \\ 1 & 0 \end{pmatrix}$$ Since they have the same determinant $(-1)$. In this same class we also have a matrix such as $\begin{pmatrix} 3 & 5 \\ 1 & 2 \end{pmatrix}$ or any other matrix with the same determinant. You already see that the equivalence class is infinite in size, but I hope you are starting to get a feeling for what a quotient map does. It maps all similar (as dictated by the equivalence relation) things to a set where they are nicely packed together.
An interesting question we can often ask is, will certain properties be preserved if we do arithmetic with the equivalence classes instead of with the set itself? The answer: for multiplication, YES!
What you probably know is that the product of two determinants is the determinant of the product of matrices ($\det(A)\det(B)=\det(AB)$). So if we multiply an element from the class of $\det=2$ with the class of $\det=3$, do we always get an element from the class of $\det=6$? The answer is yes because of our earlier statement on the product of two matrices. This means we can define a similar operation of multiplication on your new quotient set. Isn't that amazing?
For a great explanation on equivalence relations and partitioning of the integers, see: https://www.khanacademy.org/computing/computer-science/cryptography/modarithmetic/a/equivalence-relations Especially the example for mod $5$.