First thought is, that I'm glad you have a striking rug, arched feature... another is contrasting window frames, and course fp. Please post more photos across walls, and up up up!! ;)

Design a unit and mount the t v on the wall. The piece you have now is too small and it, with the t v isn't high enough to fill the wall and balance the height of the fireplace. There are lots of ideas if you google wall hung t v and surround.

Love this idea and it is simple enough to do...off centering the t v might also give folks on the sofa a better view.

I think maybe I would paint all that protruding wall shown in your last photo in a color from the rug or pillows. Add a matched pair of art pieces, centered 5' above the floor on either side of TV. Remove the trunk.

Thanks for the input,everyone. Will probably add some color with paint and like the idea of matched artwork.

Idk if this would help, if you like B. Moore's paints -

https://colorinspace.com/dwelling-palettes-1/

"Not merely to select paint color, but for entire interior; one color could work as your sofa, another for rug, and another as a dominant color in art, tile backsplash. These 12 complement each other and overall create a harmonious atmosphere."

Color in Space Estate Paint Color Palette™ · More Info

Thank you, it is helpful.

I like the colors -

The Mulberry Tree - Van Gogh Tapestry Wall Art · More Info

Size too!

Tree of Life - Green, Wall Tapestry, 59"x59" · More Info

An item like this, large and striking on its own -- if you have a great place for it... maybe on a great choice of accenting wall for it ?

The first, nice and light. I wonder if placed vertically to right of the tv might work. It could be a visual 'step' [like stairs have], to create an angle going up to higher part of wall.

Elegant Wood Carved Floral Bali Art Wall Panel, White Wash · More Info

Headboard Floral Tropical Carved Wood Wall Panel Home Decor, 27"x48" · More Info

As to painting the small bumpout wall - idk about that wall, but I picture repeating textures and so using grasscloth in soft neutral... maybe robin's egg blue, softened.

You might look into a longer, lower TV console. Then you might not need anything on the walls or beside the console. Here are some ideas from our designs:

Highlands Townhome Renovation and Decor · More Info

Downtown Denver Condo · More Info

I like the idea of repeating textures and hanging it vertically may have possibilities.