I would deal with the lighting. The facets from the current fixture are distracting and throwing as many shadows as light. How much head clearance is there climbing the stairs? Installing some cans to wash the walls with light, and hanging some colorful art opposite the railing would be nice.

@kimwright I agree with @decoenthusiaste about the lighting. On that wall, you can have a gallery of your family's favorite photographs. Here are a few suggestions. Hope this is helpful.

Add stair step lights

Can you open up the wall across from where hand rail is, and put some spindles/railing? You would create a ton of light and it would feel more open.