Consider putting in a low low bookcase to sit on the floor along the length of the stair wall. It allows you a storage to put books, interesting pieces, collectibles...etc here and the top will give you a table top surface of which to put flowers, art, stack of interesting books, seasonal decorations..etc. I would get one as long as possible (as long as the short wall if possible!), so that it visually flows across this long room. To add a lot of depth to your room, you could hang a large mirror on the wall going down stairs. Or stack a few mirrors + pictures + paintings to create a personal, warm and interesting gallery that also reflects light and charm.

The bookcase is a great idea. I would also add a three dimensional something over the stairs. If not a light, maybe something arty? Mobile might be too modern. Your ceilings are high, lots of verticle space to play with. A group of matching pendants maybe? If you want to avoid the wiring, you might find some interesting ceramics on etsy.com. Or lanterns?

I would put a floor to ceiling (close to anyway) mirror on the wall that has the bench/art work. ....a mirror with a thick frame. On the wall to the left of the white door, I would do a series of family pictures - or artwork OR even a canvas with a matching funky fabric cover (using a staple gun and high-end fabric over a canvas frame). I would maybe even consider painting the stair wall ( the short wall) a darker version of the other wall color - although I can't see where it goes from there. So many fun things you can do to this space.

the wall alongside the door could have a fairly large single piece or several mid-size pieces of art.
you could paint the foyer-side of the wall a different color, and perhaps put you loveseat in front of the stairs with a rug on the floor in that area could be nice
you could put lighting on the columns
you could put smaller art on the columns
something that might be cool is to install 'invisible' shelving from the ceiling down to the wall-tops around the stairs. - you know, glass shelves on cables or thinner poles - for momentos or art etc.

A round foyer table floating between the back of the loveseat and the column/wall would ground the area, give a place to add height, color and visual interest and might be used for more informal dining for two, depending on what's to the right and left of the photo. I love the idea of putting a large mirror on the angled wall where the bench/artwork is. It might give a welcome view into the space as you're entering.

As it looks from the picture I am looking at, the bench and art is part of the front entrance, correct me if I am wrong, I would maybe move the bench and art , And with a larger front entrance area rug, and a console with larger art piece or large mirror and accents might give this a fuller more richer feeling when you walk into the home.

where did you find that awesome red leather sofa? please share. :)

Per your picture this layout is a bit awkward. I would recommend bringing in an interior designer and discuss your vision.

I was thinking pretty much the exact same thing for what to put in front on that low wall by the stairs. You could even add removable cushions on top for extra seating. Also add a mirror(s) or artwork above the stairs to add more color to the overall space.

Just noting to my earlier comment (top). By low bookcase I meant one that was as close to the height as your low stair wall as possible. No lower. And I think you'll want to avoid anything lower that serves as a bench as it might prove a bit of a safety issue with little ones climbing it.

I respect everyone's opinion/ideas. However, my neighbor has a similar staircase alomost exactly like this one. She is an interior designer. The wall going down the stairs she has a round metal art. You need to break up all of the squarness in the room. The wall in front next to the sofa that eveyone is mentioning put a lower book case she had a small table even with the wall because that side goes into her dining room. This room appear awkward I would have a professional come in and look at the room completely it is hard to give advice based on the picture. Your layout of furniture may need to change from the other views. I do not feel a bookcase is the answer to the dilemma by the stairs. I think that if you are looking for storage is is going to have to go on the wall where the bench may be. Call a a designer t get a cohesive look :)