FYI - the horizontal tape lines with the X's are where I'm thinking of putting coat hooks and creating a bit of a hall tree with the bench below.

Agree with plf12652^^.

Staircase is very busy. I would focus improvements on taming that beast.

Ditto the other posters-this particular staircase area is not the place to highlight and draw the eye with board and batten. B&B and those balusters would be at odds and busy. If you're lacking a coat closet or back door unloading area, perhaps a closet can be created under the stairs (in the area around the corner from the bench-looks like a kitchen?).

Thanks everyone. I appreciate the feedback. If not wainscotting, Any ideas on how to dress upthose bare walls?

Your staircase is really quite beautiful! One of the prettiest that I have seen here in a while. At most, I would remove the white molding on the back wall that serves no purpose. You could consider installing sconces going up the stairs and ART on that wall to bring some life to that space.

UNDER STAIRS..
Is there a basement entry under stairs? If not, do consider putting a closet there. We did so and have a hidden storage area that amazingly hold a TON of stuff!! You could easily find a place to hang stuff leaving the foyer uncluttered. Liking sconces and art idea for stairway.

A skirtboard would do well in lessening the prominence and busyness of the treads. Wall artwork/framed photos also shown blocked out in some manner of your choice.

IMO get a coat cloeset somehwer you have alovely entry and staircase and adding a bunch of coats and boots is the last thing you need there I agree the staircase is very busy so I think new spindles ver simple would be where I would spen the money and unless there is wainscoting in the rest of that main floor none there ,A crystal chandelier and a farm house bench with coat hooks in no way works in that space. To dress up bare walls get art .

Go to HOUZZ asking for under stairs closets…..tons of ideas!!

The skirt board mock up really, really improves the look.

Thank you everyone for all the feedback and advice.