I don't know that you would want to add artwork as it would draw the eye up and accentuate the height. The first thing I would do is invest in a nice chandelier. That recessed light is so harsh. Secondly, it seems like you have a bit of the open concept going on. What about painting that wall a feature color, perhaps matching the wall color in the family room behind or even the grey that is going up the side of the staircase. I'd keep it simple and elegant.

I never thought of adding a chandelier/hanging fixture. Great idea, and a good way to have a focal point without it being "in your face". When we bought this house, the previous owner (an artist) had a huge tryptic hanging. It was beautiful art, but it didn't fill the space and looked odd. Thank you!

You're welcome!

Do a throw or quilt on a hanger.

Ever thought about painting the rail on the stairs black,then adding a great chandelier as mentioned,instant update

This is a project house. The stair railings are on our list to do. The spindles are staying white, the railings will be black, and we are having new box newel posts installed.

I think we are also going to paint all the walls a true white.

You can do a large architectural print at Staples from a cad photo (jpeg), they only come in B&W but you could do three of your own photos to fill the space. It is very inexpensive. There are a lot of tutorials online. Cheap, personal and easy. I would also see if you can change the existing can light to three smaller ones (4" with eyeball lense) and focus them on the artwork. It's a minor electrical job if you use the remodel cans (insulation contact) you can do it from below and do a drywall patch on the old light location.

This is something I have given thought to. Thanks for commenting!

Update: The walls have all since been painted white, the stair railings are going to be updated to plain iron rods w dark stained top rail, and this light is on the way...

Second try...

Wow awesome, love it

Touché!

Wanted to update that the light fixture is in. Due to logistical reasons, it could not be hung very low (you could reach up or out to touch it), but it fills the space nicely and throws amazing light. (Stair railing to change soon, so ignore that lovely orange wood.) And you can see it from outside!