If there’s enough width, mount the TV at SEATED EYE LEVEL to the left of the fireplace. That will eliminate the reflection problem. On the other side, put shelves up to the height of where the curve starts on the fireplace opening. A floor plan will help people give better advice.

Pictures of the room from all directions would help, but what I notice from what I can see here is that the space feels disjointed, as if nothing in it relates to anything else.

Without seeing the rest of the room, I'd say keep the TV on the wall it's on but move it closer to the fireplace, then arrange the seating in a conversation group such that everyone can see both TV and fireplace, if possible.

Remove the high clock and keep everything lower on the walls. With such a massive fireplace, look for taller seating. Right now your chair looks dwarfed.

First, remove all the little decorative stuff and the too-high clock: you need to start fresh. Groveraxle points out the tiny chair next to the fireplace...too small for that spot, maybe too small for the room.
If you have light from the windows reflecting off the tv screen when watching daytime sports, you may want to change the tv location or add heavier window treatments.
Do you have furniture you intend to keep in the room? Do you have a floorplan drawing with measurements to share with us? Do you intend to change the carpet? Is there hardwood flooring under it? More information will help.

Can the t v be mounted over the fireplace? Then you could add shelving on either side...

Tv above FP would be very high, which is usually pretty uncomfortable for viewing.

I think the TV should be placed on a corner unit to free up the big wall. I would place the sofa on the big wall with lounge chairs at right angle to the sofa.

Going along with the suggestion of bookcases or shelving units on either side of the fireplace. Just finishes off that wall so nicely. You can adjust shelves to accommodate your TV, and then wires and other equipment either don’t show or can be hidden away.

I think that rock fireplace is too much/too big for that space. I would look at refacing that. If it were a smaller fireplace, then I think you could get away with shelving on either side and housing the TV on one side of that shelving. Then I would put down a large area rug to give some life to all of that light carpet with a couch in the center of the room facing the TV and with two matching accent chairs on either side and a coffee table in the middle. Get someone to help you who has some decorating sense. You have a very serious scale problem. Your things are too high or too small, etc. You do not have a concept of scale and unless you fix that, your rooms will never look right.

With some built in bookcases:

This seems a bit over the top, IMO.

There are lots of different things you can do with either side of your fireplace. First of all, just remove everything that is already on and around your fireplace. Then you can start. If you need more seating, then placing a chair in the right corner would be a nice idea. You can even put art on one side or a tall plant to balance the chair. However if you do not then shelves can be helpful (on both sides of the fireplace). As for your TV area, we think removing the clock is a great idea, and keeping everything low on the wall will work. We have a nice example in our second photo of a great TV area we recently did for a client.