i think the room just seems kind of dark right now, and just lightening everything up would go a long way to making it feel more contemporary.

some suggestions:
* paint the ceiling white! (or whatever your trim color is)
* a softer/brighter solid color on the walls - lose the stripes
* have you tried just removing the shades on your fixture and see if you like it? if it's too bright without the shades, maybe go down in wattage on the bulbs? you could just spray paint it to tone down the brass and leave the shades off and it would feel like an entirely new fixture for the cost of a can of spray paint. :)
*how about some light/airy placemats or something to add texture to the table?

i know it's not a perfect example, but here's some fairly traditional cherry dining furniture in a lighter airy contemporary room as some inspiration. similar rug too!

I also think a lighter, solid wall color will be nice. I like your chandy- agree with Maggie to remove shades and see what you think. We recently bought a house and the dr chandy had decrepit shades. We removed with intention of replacing but really like it without.

Without knowing the colors of the adjacent rooms, how about painting it that very pale aqua color in your painting, change the chair cushions and maybe find an inexpensive rug(since you're moving in a few years)with Aqua in it,take the shades off...you can probably keep your taupe drapes...they look nice in maggiepies inspiration picture with the pale blue walls. If not aqua, perhaps just a light creamy taupe.

Please take another photo so we can see the other side of the room ...

Consider removing the leaves of the table (just for a quick change) Then add a long creamy white tablecloth -- you may have to have this custom-made by a sewing shop.

Re-do the cushions in simple creamy linen -- maybe even add a flirty skirt to the cushions. Also -- consider switching to different -- more modern high-back host chairs.

Paint the walls in creamy white (leave the ceiling -- but add a center medallion if necessary) -- and add a long thin table under the wonderful artwork -- with a modern lamp.

Use the large bowl (now on top of the corner cabinet) in the center of the table ...

Here is a link that might be useful: LP -- winter gold chandelier

Another chandelier -- this one is from Bellacor.com ....

Here is a link that might be useful: Bellacor -- winter gold chandelier

In addition to reupholstering the chairs, you could always paint them. Here's a link for some ideas:

Here is a link that might be useful: Dining chair makeovers

Here's another link in terms of painting furniture I thought might help if you were considering it.

Here is a link that might be useful: Painting a dining set

Thanks so much for all the great ideas! The inspiration pictures are very helpful.
Painting a lighter color is a great idea - not sure if the light blue will work but possibly a light, creamier taupe. The ceiling can't be repainted - PO had it spray painted white and the pattern is too filled in to handle another coat of paint.
The rug has no where else to go in my house - and since we spent thousands more than we had planned, no way my husband will agree to buying a new 10 x 14 rug that will never fit in our next small house! I've already bought 4 new rugs in the past year for other rooms.
I've removed the shades on the chandelier and although it's a beautiful fixture, I think I'd be happy to see it go! Teacats - I never heard of winter gold and like both of your chandelier suggestions!
And yes, the table leaf needs to go since I only have 6 chairs in the room. If I buy 2 upholstered host chairs, is it OK that the legs won't match the other ones in color or style? Or should I use the existing host chairs and get 4 new modern upholstered chairs for around the table? No problem reupholstering the chairs, but I don't want to paint them since I'm hoping to eventually sell the furniture as a set.
The picture is 72" - I have never been able to find a console table that long, had considered a sideboard but, again, I'd never use it in the next house. I'm trying to avoid buying too many big things that won't work when we downsize. Maybe I need to replace the picture and get a narrow console table with lamps.
I will take a picture of the other side of the room in the morning when there's more light.
Thanks again, you've not only given me lots to think about but you've given me hope!

As someone who has recently downsized, I would not spend any money changing art work. Very little of our artwork fit in proportionally in our new home.

Yes to covering the chair seats.

Yes to host chairs, but only if you would use them individually in other rooms (bedroom or living room) in a potential next home. I think if they have some curve to them in either profile or fabric that the legs don't need to match. I would get a similar wood color if there is exposed wood.

If you don't love the chandelier, consider removing the shades and changing the color. There is a product called rub and buff (do a google search and you will find lots of blogs showing it being used.) I do think personally I would change it as is very formal. We went with a 5 light pewter toned fixture with glass shades in our DR.

I am impressed - great ideas. Our dining room was blown up during our kitchen reno & I am going to need to update without much of a budget.
When we have furniture back in there, I hope to post pics & get your ideas.

It seems like that big picture is dragging your room down. It's dating it, or defining it in a way that you're probably not going for. I'd take it down and go for something less formal. I can picture a Howard Miller gallery clock on that wall, grounded by a console under it.

We're in a similar situation. The dining room furniture we have is very traditional and we're trying to fit it into a more transitional space. I ordered host chairs with a leg finish that coordinates well with my traditional set, but is a different shape. I also reupholstered the seats on the remaining chairs and swapped out the chandelier.

Your art piece to me reads Chinoiserie. The ceiling has shimmer. You like contemporary, but the furniture and rug are traditional. The style that combines these elements is Hollywood Regency. This is a real bold, exuberant style and is not for everyone.

Do all the suggestions above: You can pick one of the chandeliers that teacats linked. Pull a color from the rug or the aqua from the painting (as suggested above) on do the walls in that color. Reupholster the seat in the color, and maybe add host chairs. If the rug fights, go bare. Its a more contemporary look, as shown in the pic above.

This pic is bolder and more traditional, but you get the idea of what color will do to a space with traditional chairs and a large dose of chinoiserie:

[Traditional Dining Room[(https://www.houzz.com/photos/traditional-dining-room-ideas-phbr1-bp~t_722~s_2107) by West Hollywood Interior Designers & Decorators Elizabeth Dinkel

With a "teacats" chandelier and different table accessories, the look would be more transitional. Obviously you would have less pattern, but you could add a starburst mirror in antique gold to further accentuate the style and play up the ceilings.

My 2 cents: I like your idea of a lighter, creamier taupe for the walls. I love the way the bamboo shades looks in the inspiration picture. And, you can keep your panels.
I would be bothered by bulbs without shades, but many her seem to think this could work.
I think you should first paint. I guess you don't want to go through the expense of correcting the ceiling so it can be painted white? Get bamboo shades and then take your time with the chancy.
I also agree to removing the picture. I would put one large and two smaller pictures in that spot.