The piece of art is too large for over the dresser and if hung at that height not ideal for viewing it properly. Art hung at the wrong height distorts the proportions of the room. It is a nice piece so I suggest hanging it on another wall in this room where it can be hung correctly.

If you hang it over that dark dresser on the light wall, it feels to me that it would need a dark frame in order to not be just lost above the dresser. And, I agree that it would have to be hung too high to get above the thermostat. I would hang it on the other wall.

The husband of a friend of mine hangs things for her. When they moved to a new home, he was so proud having hung everything while she was out, BUT he hung them all about a foot too high. It's REALLY distracting and, in my opinion, takes away from the "flow" of the room. He doesn't want to re-hang them because then he'd "have two holes in the wall for every picture instead of one".

Put a long narrow mirror over the dresser. Maybe hang the art over the bed. I can't see the other walls. Also, I agree that a dark wood frame would accentuate the artwork because it seems to blend in right now.