Changing the carpet to hardwood would give the room a completely new look.

HI -- So the only furniture you talked about is a 3 seater leather sofa . What other furniture are you keeping that is in the picture ?First thing is to work on the fireplace. Remove the crown molding and the mantel surround. Then tile it with a granite or marble or a stone vaneer.Put some black slate or granite on the hearth. See if you can have pot lights installed. Paint the room in a medium tone Benjamin Moore paints - " Florentine Plaster CC-520 " or "smocky taupe CC 490 " or "boothbay grey HC-165 " or "revere pewter HC -172 " or "coventry grey HC -169 " or your choice . Have all the base board and trims in a warm white " cloud white OC 130". You can have bigger base boards 4.5 to 6 inches . Then go with a medium tone wood floor . Put a flat screen TV on the wall beside the fireplace w/ a cabinet under and matching cabinet on the other side of the fireplace w/ mirror over and a lamp etc. Have your sofa where the old one is now . Put wood blinds ( color like floors ) w/ drape full length side panels , hung high on a wood or an iron rod. Something in a linen texture . Two matching smaller occational chairs where the old chairs are now. I see somehing on the right in the picture -if there is a small wall there then have a small console there. Then add an area rug ,coffee table or ottoman and side table and lamps.