I agree with the above comment.

The ornate mirror, while pretty, might be more suited to a traditional space.

Very interesting. The reason this wall is giving you problems is because it is your Focal wall but while mirror is great it isn't tall enough and putting armoires or tall pieces next to it will diminish it more. Switch it with the tv and console. It will fit better where the TV is. Turn your sofas toward TV then. Paint that wall navy blue. Hale Navy. Add a few pillows to sofas with some of the blue. Declutter and i think things will feel a lot better.

Also, position egg chair on other end slightly in front of left edge of mirror. No armoires needed. A nice floor lamp to right of TV and a single large leaf tall green plant to the left will frame TV and add warmth to your space. A black shade on floor lamp would help balance egg chair by repeating another black element. The third black is your doggie!!

Perhaps the tv should be on the back wall??

How about doing the wall in built-in bookcases, connecting them underneath the mirror ( which I assume you are partial to)with cabinets. That way your mirror is off the floor and the whole wall will look cohesive if you paint it out the same as the wall color.

I love that inspiration pic, but that room's style is very different from yours.