I'd move the sofa to that wall. Too many small items on a giant wall. lt would open the room for starters. Then add a single oversized painting or hanging.

Or move away the small table lamp and chair and trashcan(?). Try the chair on the other side of the sofa, not at the foot of the chaise. You need a proper walking area. The little table needs to connect to chair, not stand alone. Replace with a single huge artwork, say 40" tall by 70" wide. A statement photo could work as well as a painting. Big wall - big art - big impact.

I would need to see a picture of the entire space to really understand it But in general you need a larger piece of furniture on that wall whether it's a couch or a wall unit.

What else is going on in this space? Do you have another chair like the one that is against the wall?

If possible, I would move the sofa there and get a large painting for above the sofa (horizontally placed). You don't need to get something for all the way up

Posting a photo of the entire room would help to confirm the layout and what should go on that wall in case the answer may be different furniture. However, the entire height of the wall does not need to be decorated and I would not recommend huge artwork.