Don't despair. There's no need to sit on the floor, unless you're thinking about going completely bohemian. What is it that is bothering you about your space? And which space is yours - the first or second photo?

It's the same space - with two different sofas. I bought the dark one for the family room - but looked awful - so tried it in living room (pictures). Here's the light sofa another way.....

The lighter sofa is more contemporary and does more to compliment your floors and fireplace. It's very nice as are the rest of your furnishings. Have you considered putting it in the same position as the one in the first photo? The reason I ask, is that its current position looks like it might hinder entry into the room.

You do have very nice pieces - It appears in your pics that the room is very long for a single conversation area - Can you 'zone' your spaces using the back of the L sofa with a narrow console table behind, the area rug & glass table to define the inside of the space and the pair of chairs along the open half-wall with small table between ? Any media next to the fireplace ? If not , how about built-in or even floating shelves on the empty side of that end wall ? Can the dark cabinet / bar be used on the long, solid wall between kitchen and living rm ? or in the family room ? (sorry - its a bit difficult to tell what the function and scale of that piece is ) If your darker sofa is a single vs wrap around, try it again with a smaller area in mind. It may have worked and would complement the chair seats. Paint might make a big difference too - thats another chapter ; )

Your space has good bones, including your furniture. It just needs some jewellry, ie accent pillows
and maybe one piece of art for the wall behind the sofa, I like sites like Allposters, they have great canvas art.....I would maybe flip that area rug somewhere else, and put in a lighter one with some texture to offset the leather, ie shag or wool. This would give warmth to the space. You have done excellent with getting the basics in, now its time to have fun with the accessories!

Something about your area rug is bugging me. I think it's too narrow. If you moved it flush against the long wall, or as close as you can without having the short end of the sectional fall off, I think that might work better.

Or possible replace it with a patterned rug? To add some interest to an otherwise "solid" room? Make it more lively?

It appears that the piece to the right of the fireplace is too big. What about putting it where the chairs currently are and bringing the chairs more into the space for conversation. Think your rug is too small for the space - here you can go with a pattern for more interest.

I prefer the lines and color of the lighter sofa with the Noguchi table. I would suggest a piece of abstract art rather than the mirror over your arm chairs as the mirror is presently reflecting your bar. Throw pillows with a tribal look would also be a great addition. Take a look at the collection at West Elm.

This is my favorite lay out...but requires returning the cognac sofas. Agree with side tables, lamps, art, etc - we just moved in so I wanted to get sofa right - then accessorize around it.