Seems like couch is too bulky for the space. Maybe a nice side chair with a small table if you want it to be a sitting area, if not, a nice chest with a lamp sitting on the right side of the chest where the wall is higher and some accessories (books, sculpture, etc) on top of the chest would be better. Hopefully that's not the only place the couch will fit and I would definitely move that torchiere lamp from beside open the railing.

Yes, agree with temcgill. An accent table would look good here. This is a perfect area for a little vignette!

images: credit to respectful owners