Unfortunately the access to the stairs would need to stay, I just finished the basement last year and we use it quite a bit, thanks for the ideas though. Definitely would love to take out the wall between the kitchen and the living room, close off the doorway to the kitchen from the hallway, but I'm not sure how expensive that job will be.
The wall is not load bearing either.

austinkline, I think sunnysideforever was suggesting moving the doorway to the garage, not closing off the entrance to the basement stairs. If you move the door to the garage down so it opens into the kitchen, you can make that awkward space where the door used to be behind the stairway into a closet or pantry.

Is the window by the table at least 36" from the floor? If so, run the countertop into that space.

However, I think your first priority is removing that wall completely. You are so lucky that it's not load bearing. It won't be expensive to remove, but you'll have to patch the ceiling and floor. Hopefully you'll find that there is a continuous header over the opening into the hallway so you can remove the wall where the kitchen door to the hallway is, too. Then you'll have space to put your table (a round one) between the two rooms, and use more of the kitchen wall space for cabinets and counters.

this is what I would do. Move wall to living room. Make it a half wall . Remove the rear entry door and double window and replace with a slider and smaller window. Move entry from garage as some one else suggested. Leave sink and window where it is. Extend wall near stairwell. Perhaps half wall.

Promethean Remodeling, thank you for helping me visualize this with the layout. This looks awesome and I love the looks of this. Currently, the stairs are over our second bathroom in the basement, and by flipping them I suspect they would run in the bathroom.

This layout still looks workable, with the exception of the stairs and garage entryway though. I think by swapping the fridge and the over we will create more visual space. I completely intend to remove the soffit above the cabinets and love the idea of removing the wall between the two rooms. Is there a benefit to keeping a half wall as opposed to removing from floor to ceiling?

I've acquired salvaged wood flooring that we are finishing and will be laying for the floor and also have a great deal on granite for the counter tops when we get to that point. I'm trying to find and economically feasible option for cabinets.

Thanks everyone.

I misinterpreted the plan and thought the stairs went in the other direction already. Moving the basement bathroom would be very costly. Leaving the half wall accomplishes two things: 1. it creates an open and more spacious feel while still giving separation between the dining area and living room and 2. It would allow for furniture to be placed against the half wall for a better seating arrangement in the living room.