I would not ditch the chair. What I would replace are the curtains, lamps, ottomans and end tables. First thing I would do is replace the ceiling fan with a drum shade fixture and see about adding some recessed lighting on dimmers. Move the speaker and extend the drapes so the wall is covered. Consider patterned drapes on a much larger diameter rod. Move the furniture/rug so that the front legs of OF furniture pieces are on the rug. The chair and loveseat are too far away. Pull them in so the arms are almost touching the sofa arms. You need a statement piece like a cowhide ottoman or you could just do an orange one. Your lamps are too small. Need to be taller and larger scale. As far as end tables, look for a combination of rustic/modern but lighter wood tops.

We can't replace the fan. It is right beside our 3 sided fireplace and very useful to distribute the hear when it's on. We just repainted the entire floor including ceiling to freshen it up. I will play with the furniture and rug as suggested and repost pictures to see how I am getting it together. Thanks.

I made a new post and added a few more pics from different angles. we moved the speakers into the cabinets which i like better clears the top off more.