I think some colorful art and a rug would look nice!

I think your wall color is very pretty. I wouldn't paint it the same as your molding because you will then lose that detail.

You can add a rug with some color and pull in artwork to coordinate. Such as:

Or go a darker shade of your sofa color. such as: (definitely prettier in person)

NOT SURE WHY MY PICS AREN'T SHOWING LIKE EVERYONE ELSE?!

Don’t paint…looks great!

What doesn’t… you need the three foot walkway behind sofa back.

Instead of paint change the fan to one with no light kit or a chandelier

Love the idea of a soft wispy gray! We like Benjamin Moore's Balboa Mist, Gray Owl, and Moonshine. Make sure your trim works with the new paint color though - you don't want the trim to end up looking dingy because of clashing tones. A tall bookcase or a fun bar cabinet would look great to the right of the fireplace to balance out the built-ins on the left. Pick out a great piece of art and hang it above the mantle. I'd suggest starting with a general color palette (wispy grays, ivories, and slate blues perhaps) and then build from there. Maybe the rug has pattern and the sectional or sofa is soft neutral. Add a wood coffee table or metal side tables to add depth. See below for some inspiration images. Good luck!

I agree with JudyG about space behing the sofa.

Here's some suggestion for your wall you might like......to know more about my Art work and collections please visit my shop -

http://www.pooviartgallery.com

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I would turn your sectional around so the back faces the window and add two more chairs you have a big living room and your sectional looks smaller in scale for the room