Appears to be plenty of storage now, are you looking to go higher? To ceiling? More open? or just more storage space. You could paint the existing cabinets to match the FP so it would look more like one unit.

I agree with TrineVig. You will be surprised how much extra storage you will have with the shelves... and they are relatively inexpensive to build. You can add a wine rack that can double as a liquor rack on one side. You can also add horizontal lift doors with a wire covering or screen instead of the center panel - this will allow you to put your electronics behind them and still use them with a remote. Good luck with your project! I would love to see the 'after' photos!

I would take the old cabinets out and build all open storage to the ceiling also I would

replace the fireplace surrounding with a Stainless Steel Frame to update the living room, but wouldn't go white, stay with a brown stain

You can also paint old cabinets with white color and add shelving above.

In keeping within a shoestring budget.....
Keep existing cabinetry and paint it a charcoal gray to echo the fireplace metal color. Currently the cabinetry wood color argues with the flooring color and competes for the eye's attention. Add a generous room-size rug if your budget allows. HomeGoods, HomeDepot and Lowes all have large rugs around $200.
Remove the sconces. They are out of proportion with the fireplace/mantle and not in keeping with the tv placement. Cover the holes with plaster boards, seal and paint.
Paint the feature wall a lighter gray that is in the same family as the dark gray colored lower cabinets.
Install an additional board and edging to 'beef up' the existing ledge. This will make the mantle molding feel joined. You can have Home Depot cut the molding for each side; then use Liquid Nails to place it.
Next install open, adjustable shelving throughout the remaining space.
Try to keep items on shelves to a minimum and use your wonderful closed storage you have below for most items.
Keep in mind ease of cleaning and orderliness of items.
Perhaps add some new and interesting knobs on lower cabinets if the old ones detract.

I'd paint the cabinets white, move the TV to hang over the set on the right side, and put a real piece of art over the fireplace. That would de-emphasize the cabinets (now wall/trim color) and the TV when off, put the TV at a better viewing height (and make cables easier to hide), and you could add some white shelves if needed, or open part of the current cabinets to allow components to hide inside...

So Many great ideas ! Thanks ! So here's my dilemma with the white cabinets. Our house is literally one big room minus the bathroom and bedroom . That said, our kitchen has white shaker cabinets and our floor wide plank "character oak". So I agree that there is too much orange going on, but not sure about adding more white cabinets to the fireplace surround . I also need to be aware of not getting too busy cabinet wise.. I am thinking. Please note our house is not done, so it is still " cluttered" . Any input greatly appreciated. Feeling overwhelmed!

I added the photos so you could see the layout of the house and the colors in the kitchen

How about a Stonewall with floating shelves to give it an open flow and update the Fireplace

Do you have a picture that shows this?

Beautiful home....I think adding more white would be perfect.