Remove or lower the mantel. Add art and/or mirrors. A major ceiling fixture would be a good addition.

Suggestion: A large scale mirror above the mantle, and a modern chandelier hanging center over your area rug.

The fireplace is the dominant design element in the room. I wouldn't add art or a mirror above the mantel. They would compete with the stone (and lose). I would remove the mantle altogether, or if you really like having a mantel, I'd decorate it very simply with one long low item.

Gorgeous room and home.

Will you want to cover the windows at night to avoid a black hole effect? You may need to live in the house for awhile to make some decisions. I agree with removing those formal-style drapes but I wouldn't dispose of them just yet. You may want to have them re-made to draw over the windows at night, and new drapes will be expensive.

The pictures are from the listing. We don't have any neighbors to worry about with removing the curtains. There are a couple ugly ceiling fans (too small) that will be replaced.
I don't think we will change / paint the fireplace stone and I love the idea of removing the mantle.
What about wall color? I'm considering Accessible Beige by SW.
Thank you for all the ideas!! I need them.

BM Edgecomb Gray

Re-veneer the chimney breast with less rounded stone or plaster over it and remove the mantel. The height of the room is its winning feature, not the stonework. Paint walls off white or subtle cream like Dunn Edwards Historic White. No drapes. Remove wooden panelling from the ceiling and plaster/drywall it. Install a decent black metal chandelier or giant classic outdoor lantern, perhaps Edwardian or Gothic in style. No mirrors (save those for the bathrooms) but some good scale canvas or reflection free artwork. Choose pale lampshades to tone with paint colour. Some Navajo style throws to liven it up.

I'd try both of the above on a large surface in different lighting conditions. I had our living & dining room painted in Edgecomb Gray..... disaster ! Turned bluish /violet most of the day, very cold looking for some reason. Expensive mistake, having it repainted. I'm testing Accessible Beige & 2 others soon.

Try some elegant lighting: