How about a Ficas tree? Or Palm tree? A nice large plant will give the area life immediately. Or, a small round table and a large vase always with fresh flower.

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A large flower arrangement like this, but the table a small round one in the cubby.

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Look for a really awesome sculpture

yes there is a coat closet right next to it.

Because it is so deep, I'd put a small table along the back (as you look into the space), then add an ottoman beneath the bench, so you can sit down to take off you shoes. Add a nice tall buffet lamp and mirror on the table. Along these lines, but not as wide, of course.

Plans by Marcy

Right off the top of my head, and dependent on your lifestyle, I see lots of options.

1.) a catch board with decorative coat hooks angled to match the railing slope on your upper stair run. I would add a bench below that, open underneath to catch shoes as an informal practical option.

2.) If you have a daughter, then a doll house might be cute. If you put it on a storage base (for accessories) on casters, you can slide the whole setup in and out as needed when it is playtime.

3.) A globe on a stand would be cute there as well, if you travel a lot ... sort of an introduction to your personality. A simple straight back chair would also be handsome and practical.

Also, I'd consider using wainscoting and chair rail on the straight wall opposite the stairs with a montage of framed photographs and mirrors over it.

A runner rug would make a nice addition as well.

I think something like this could be really cozy and fun. A small little corner to go and read without being bothered. You could build a bench and leave the inside open for extra storage space and the seat cushion can lift up for access. And since it does not look like a wider space, you could keep the bench deep for lounging back against pillows. If you would like some ideas for cushions, check out these comfortable throw pillows.

Life size knight with coat of arms? :)

A tall case clock.

I would do a built in bench with upholstered backrest, wood trim, art or mirror on the wall. Could even add a light sconce. Something like these:

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