First either get another cabinet the same as the one on the right of fireplace or take that one away. Then if you wanted you could use some family pics on either side but I must tell you I am not a lover of family pics in public places I much prefer them in halways leading to bedrooms in a gallery layout. Lower your art work near the stairs to center being at eye level and get rid of the little table and lamp in that space. In fact lower all the art work. How a bout just some simple bookshelves on the sides of the fire place with a few simple things on the shelves and have them at the same level as the mantel

A gallery wall would look great in either stairwell! The one going downstairs would show better in the living room. I would also put your sofa and love seat in an "L" arrangement and move the bookcase over under the large picture. Then a nice little accent chair would look great over in the corner by the fireplace!

Would the cabinet beside FP fit beside door, or would it interfere with opening door. The table there now is way too small, and the FP area looks unbalanced.
You could also add an end tables and lamps to sofa as that would add something to that side of FP. Then add picture shelves to wall on both sides of FP to display photos. Items on cabinet are too small in scale also.

I would try the furniture in the L configuration described above and see if it fits, moving the bookcase to where the loveseat currently is.

I'd also move the very small table with the lamp on it out of the room. Please take pics and show us if you decide to try some of these suggestions.

You have too much bulk in your living room. Move the cabinet to the other side of the room to the right of the staircase (and lose that little table) and put the lamp on it. Lose the loveseat and move the couch so it faces the FP. Buy an ottoman or coffee table about 1/2 as deep as the monster you have already, and buy two smallish club chairs that will flank the FP and face the couch. The lights on the ceiling fan are unfortunate-remove them and buy some lamps for the room--maybe a console table behind the couch would be a good place for a lamp? The sconces on either side of the TV appear to be outdoor lights--can you remove and cap those? After you do all of these things, consider lowering the art as suggested by another houzzer, and think about your family gallery wall somewhere else. A few important photos could go on the mantel or the new console table, but don't be so quick to muddy up the walls with tons of photos. I wonder what's happening down those stairs--is that a family room? The love seat could go there.

Good advice above - I would add I think you could use a smaller ottoman or coffee table, not as bulky or large - preferably a table with legs. I think that the blinds should be white to go with the lighter wall color when closed, and not dark.

I would recommend that the 'family gallery' of pics be hosted on the wall to the right of the stair case. I would create a grouping and incorporate the photos you currently have going up the stairs and in the hallway into that gallery wall as well leaving the stairway wall bare and the upstairs hallway can feature a larger print. As mentioned above, I would also incorporate some symmetry around the fireplace and the furniture in an L-shape with the love seat where the sofa is and the sofa facing the fireplace.

We moved the furniture into an "L" as suggested by many. My concern with this arrangement is the squeezed space between the corner of the couch and the corner in the living room. My next attempt will be moving out the love seat and replacing with two chairs. Any other ideas?

That cabinet looks awkward next to the fireplace. Try placing sofa or love seat directly across from fireplace. Place cabinet on wall perpendicular to FP wall.

The couch facing the FP is a fantastic improvement. Now reduce the size of the ottoman/coffee table and bring the sofa closer to the FP, which will allow for easy passing on either side of it. Place a console table behind the couch. Move that cabinet to another location (hey--would it work behind the couch??), and you could arrange a family photo grouping above it--just not in the living room. Remove the love seat and add two chairs.

Like your "L" arrangement. Try moving the cabinet to the wall where you have the large picture right of the sofa in your photo. if it is holding TV gear, is there a closet nearby for the gear to hide in?

I agree that the L configuration is a huge improvement! I think the single cabinet beside the fireplace does make it look unbalanced. Maybe move it to the other side of that doorway, by the one couch. That would fill that space perfectly!

Hah! Typed this and just saw decoenthusiaste saying the same thing. We're on the same page! :)

I think the pictures of your family will go nicely over the loveseat by the door as it is not a very 'in your face' spot in the living room, but the stairwell is also a good idea (in line with what Patricia Cowell had said about family pictures in a spot in the home leading to the bedroom.) And I think a glass top coffee table would be a good one to get for this space.