Boy, that view down the steep looking stairs makes me dizzy! is there a light at bottom & how about wiring it to come on with the ceiling light in stairwell so it’s not a dark hole & seems safer? Or, would a hanging light shed more light at foot of stairs?

Something like this will solve your dilemma

thats a nice bannister and rails for bsmt staircase!

It is a finished basement and there is light at the bottom. Debating on a darker wall color and adding an art or shiplap on the wall facing door.

My vote is art. I think shiplap will further close in the space. The light at bottom of stairs - can it be turned on at top of stairs? Maybe add a hanging light in this stairwell along with art