Replace the metal facade to a larger rectangular/square shape in a nice color like pewter on black would be nice. Place a beautiful thick reclaimed wood hearth above.

I agree with Bev, a nice reclaimed wood mantel. Then you can decorate on and above that, according to your style.

I would replace the light/ceiling fan with something modern. Then get a new area rug that is lighter in color and shaggy.

What do you hate about it? Is it that it's so big, or is it the color of the stones or grout? What is your decorating style?

Will you be putting a tv in this room?

love the stone! Maybe paint the fireplace insert oil rubbed bronze instead of silver.

and I agree with the others, replace the ceiling fan, paint the walls and get a new rug.

Here's a blog where a woman updated a fireplace that has a similar stone look to yours. Don't know what your taste is but here's one option to consider for what to do with the stone...https://itsjustjessica.wordpress.com/2013/07/25/new-home-makeover-step-1-white-wash-fireplace/

The tv will not be going in here, it's too big for the area. Just not a fan of the color and look I guess. I really like the wood mantle idea though. What color wall do you think would look good with the stone? This room opens up into the kitchen which is a little dark.

The wall colour is at war with the stone. Start with a larger rug (front of chairs and sofa should be on the rug), and pick up a wall colour from it. Floor-to-ceiling drapes co-ordinating with the rug and help balance the stone.

I think Valerie's suggestion of whitewash is the way to go. Love the look of the redo she provided. It will soften the colors and tone down the dark grout lines.

I think the stone is beautiful but the grout is too harsh for the color of the stone. It would look really nice and more updated with a lighter mortar more close to color of the stone. I don't think it would be hard to paint using flat latex paint and a small foam brush. This pic might help to visualize it
I will have to add pic next post, I lost the link.

Your ceiling in the living room appears quite low. I would paint the ceiling in there and the kitchen a shade of white like BM Cloud White (or other) That will "raise the roof".
Paint the walls a neutral cream to beige to greige; it'll depend on what best matches both the fireplace stone, kitchen cabinets and furnishings to tie it up. bring some large swatch/samples home and try them all in different light. :)