Remove the wallpaper. Paint the stairwell and the railing white. And though I love the idea of using the stair wall as a gallery, it doesn't seem finished. You should add more photos to fill it out. See examples:

IMG_9789web.jpg · More Info

Lois Moore Project 11 · More Info

Greenwich Ave Residence · More Info

I might also remove the carpet and add a stair runner, instead.

I would also switch the light fixture.

I'm a fan of LARGE art/photos on the stairs.

The steps are NOT a place where one generally pauses to look at small things. When close up, on the stairs, your focus is to get up and down the stairs as efficiently, quickly and safely as possible.

If the stair walls are such that they can be seen from *other* places in the house, you want to be able to admire the art (or photos) from several feet/yards away.

Some examples from the net - I think art often works better than photos because the scale, from a distance often works better:

Art:

These photos are OK:

Smaller photos, especially those with multiple people are hard to discern unless seen up close, which should not be how they're viewed when on steps, IMO.

I too would remove the wallpaper. Paint that wall a deep color you LOVE.

and hang a fabulous light fixture to announce your STYLE.

Paint the gallery wall white, so it looks like a gallery wall of photos.

I would paint the rails. white or black.

If it were mine, I'd take all the photos out of the existing frames and have them blown up larger and on canvas. or do a new series updated. Fill the space with your images large enough to SEE.

I’d step back and consider the entrance as a whole, while you are making changes. There are two paint colors, plus wainscotting I believe. With what you added on both staircase walls, as well as the height/placement/quanity of pictures, it feels very busy.

If it were me, I’d paint that whole area the same lighter color to make it feel larger and brighter. There is all kind of advice on gallery placement on Pinterest. Pick the look and arrange as illustrated and don’t start as low on the wall.

You could add a floating shelf, which will make placement and editing a lot easier. Less bulky frames (try Ikea) for a more up to date look.

Go big or go home.

Take down the wallpaper and hang a very large vertical colorful print or abstract. For family photos, enlarge the best ones and matt them into even larger frames. Personally I’d not hang the M or a clock but that’s just me.

New balusters. Wright iron are nice. Paint the rail and posts black? I know changing millwork is a rabbit hole, which is why I haven’t yet, but along with the artwork suggestions, that is what it really needs.