I see the baseboard heaters. Would panels obstruct or create a fire hazard?

considering it's a 1960's era, could you leave drapery off altogether? Would it take your area into a little scandi minimalism, with classic elements of the sofa and globe? If it's too bare, consider a faux roman blind style pelmut.....has the layers of a blind but doesn't lower?

If you first just remove the current window treatments you will get a better look at the actual space. Your decisions about color and pattern won’t be affected by the style or color of what you now have. I think you will feel more free to think in a different direction. Luckily you have blinds for privacy, so you can take your time picking out your new look.

If curtains, simple panels only, double fullness at least, and a rod/ extended bracket that allows them to skim the FLOOR and pass the baseboard heat neatly. Do not !! stop short of the heat run. No.......they WON'T catch fire, and no, you won't freeze either. No flood curtains. In the meantime? Remove those other things : ) No valances either. A simple soft white will do nicely, and allow other decor changes up the road.

An upgrade to the metal blinds would be great as well.

Try the wood blinds alone for the summer.