I think that a solution is in a combination of many of the ideas already shared in this discussion. To relocate some items and to change the lighting will do a lot to the space.

The idea to relocate the TV to a sidewall is a good one. A piece of artwork should be over the fireplace. A thick long mantel as travisinteriors suggested is a good idea, coupled with a fireplace surround. Replacing the fireplace with a larger one that is scaled to the room is a good idea. You will find that by scaling the mantel and fireplace to fit the room will balance the space.

On the sketch I did you will see some added detail work on the mantel as an accent. And to either side of the fireplace I sketched a display case to show an art piece or special memorabilia.

A ridge skylight would greatly increase the daytime light levels in this room. In the evening effective lighting designed to complement the space and controlled to allow different uses will greatly alter the room from a dark space to a bright one. A motorized shading device in the skylight would be a good idea as an added feature.

I suggest removing the track light fixtures. Provide paired down lights mounted to either side of the beam. Also provide paired wall washer light fixtures to illuminate the sidewalls of the space. I would not recommend mounting lights to the bottom of the beams. The bottom of the new light fixtures should not extend below the bottom of the beams.

The pair of down lights that would be closest to the stonewall would be directed to illuminate the mantel and artwork over the fireplace.

I propose that you add a cornice shelf over the door opening that would extend the length of the room, as well as one on the opposite wall at the same height. The cornice shelf would provide a place to mount concealed up-lights to illuminate the ceiling. Recessed puck LED lights in the cornice shelf would provide accent down lighting.

The ability to control the lighting with dimmers will greatly enhance the space. The paired down lights near the skylight, the wall washers, the cornice shelf up-lights, the recessed puck down-lights, and the lights over the mantel all should be able to be controlled independently. A pre-set lighting control panel will allow you to create a lighting level that works best for different activities easily.

Sstarr’s comment on the lighting is a good one. The reflectors for the lights need to shield the source to cut down on glare. Floor lamps would be a good choice for lighting near seating areas.

I propose to locate the TV atop a low credenza on a sidewall. The credenza would provide space for storage. Vertical supports for glass shelving would align with the beams above and would extend to the cornice shelf above.

A line of casement windows on the opposite sidewall would bring additional light and further open the space.

I agree with the comment to not paint the wood ceiling or stone, both would be very wrong. Better lighting that allows flexibility in its use is the key.

Attached is a sketch I prepared illustrating these ideas. Good luck sorting through all of these ideas.