I would put a large table ( dining) on that blank wall. It's a great place for the kids to do homework, projects. and also a place to eat. it can easily be made into an adult space, if you have guests over.

Working on Long Island New York apartment complex. Selecting surfaces and doing elevations for the job.

I think the carpet makes the room look small and outdated. The windows could use a soft fabric that would flow. Even if it were only side panels. The two chairs need some new cushions for the seat and a thin cushion for the back. I would also put the couch on the wall oppisite of the chairs with a small coffee table inbetween creating an intimate conversation space. On the further wall where the couch is could use a table and chair set or even a bristro set- it could be used by any member of the family and for different activities.I would also add a floor lamp. Then put down a more natrual rug like sisal. The neutral color would open up the floor space.
I would also group all the pictures together as a collection. Use the sofa table for the lamp and place it under the single picture of the girl.
I'm not a decorator but I think it would look better that way.

PS I couldn't get the video to play so I'm only going by the second picture.

@ragsangle: What browser are you using to view the video? Houzz works best on Chrome/Safari. Have you updated your browser recently?

Totally agree with @ragsangle about the carpet!

I love the suggestions! Carpet must go, I agree that it will open the space.
I am not a designer.
I would suggest any double duty additions with safety and durability in mind.
An upholstered storage bench or ottoman, would have softer edges and allow you to put things away. I would definitely suggest updating your blinds. Whether it’s simply curtains, or wider shutter style blinds.
Any taller furniture needs to be secure, so as not to fall over on rambunctious little ones!
I like the picture of a wide chair near a bookcase, where you can cuddle up at night and read, to your children and hopefully for yourself