You have some nice things going on there. I would move the table and lamp from the right side of the wing chair to the left side. Remove a lot of the little stuff. Your little guy is so cute. What a character.

I would suggest you angle the TV and the credenza across the corner where the stair rail meets the wall. Then, I would suggest you find another location for the love seat and keep the chair and sofa where they are, except that you might move the sofa just a bit farther from the right-side end of the fireplace. The floor lamp could go between the chair and the right end of the credenza in the new location I proposed. The room already has a lot of furniture, and your plan to remove the fish tank shows you are aware of this fact. The end tables you have are lovely, and I would suggest you have them flank the sofa.

It looks like the wing chair is in the same coloring as the entertainment center.

Maybe a few pillows with "yellow" in it to compliment them both on your sofa.

This is a nice room but please put the fish tank elsewhere. It is cramping the corner. If you move the fish tank then you can slide the love seat down a bit toward the corner and put floor lamps on either side, or put the black small table in the corner with a fun lamp on it and a floor lamp on the other side by the stairs, and possibly hang the iron art on this wall that is now over the fireplace.....about 5 - 10 inches above the back of the love seat cushions, lower is better and a nice large piece of art for over the fireplace taller rather than wider, and generally the width of the firebox. Do you have a pair of end tables on each end of the sofa with matching lamps.....I see one of a kind in the whole room and it is give a look of a furniture store....adding a pair of floor lamps, and a pair of end tables and matching lamps will give the room more structure....the small floor lamp in the corner by the fish tank can be move over to the wing back chair for now and the black little table can go somewhere else.....a small basket by the wing back will finish the look in that corner.

Add solid deep blue pillows in solid colors of silk, corduroy, suede, wool for the sofa and love seat and then one or two pillows in the colors on the chair, on pillow on love seat, one on sofa; maybe kidney pillows for the contrast colors.....and hang the mirror over the console instead of leaning it to fill the wall, change out the lamp shade to a fun color so that it shows up, and add a basket on the floor to one side for softness and reinforce the nice country look of this room.

Your first step shouldn't be to go and buy something, because first you need to know what your finished room will look like. Decide what furniture you are going to keep. If anything needs a slipcover, just get it now. Upholstery is usually not worth the cost.

Then think about how you use the room now, and any frustrations you have. Not enough seating at certain times? Can't find what you need where you need it? This will give you your seating and storage needs. Decide how you would use the room in an ideal world. Leave space for iPad storage and charging, for example.

For a young family you may be better with an ottoman than with a hard coffee table. Slipcover your existing leather ottoman with something washable and you're good to go at less expense and better function for you. Add a big tray on top for beverages.

I'm sure your end result will be great!

There are many chalk paints on the market. Annie Sloan is only one and may not be available in your area. See what brand is available. It goes a long way, so a small can covers a large piece of furniture.