It's a massive fireplace for sure! However you change it, it will make a big impact on your room. You could apply thin brick or thin stone veneer to the stucco on the lower portion of the fireplace. Adding a mantle will be an improvement. I would suggest removing the raised panels on both side of the fireplace. Paint the top portion above the cap would help it disappear (which would be a positive in my opinion). There upper portion looks ready made to display a very large piece of artwork or, perhaps an antique quilt. I would be careful about mounting the tv above the fireplace. Mounting it too high will cause neck stain from looking up so much. Good luck!

I think the TV-over-the-fireplace look is only acceptable in ultra modern settings, and a TV over your mantle would be too high for comfortable viewing.

You can also create a wave panel look using our Contemporary line of 3D Mouldings from Pearlworks! Good Luck!

Thanks for your suggestions. I like idea of a veneer and also removing the panels - on one side removing the two side panels and on the other side removing the top panels and blending it in with paint and putting a big picture. One side - connected to the main living room and kitchen My challenge is that I have windows on one side and room on the other two. So no place for a tv other than the wall. The other side of the room where the tv is on a console has huge u shaped couch which we have split up for now. The only way we can keep it there without covering the fireplace would mean the tv is on the fireplace. The previous owners had it on the wall on the opposite side of the fireplace but their furniture probably worked better!