You do not seem to have modern furniture , the flags in the niche definately not modern in fact the niche needs to be gone I have no idea how that black wall would be any improvement at all but removing some of the shelves all of the family pics and much less knick knacks on the shelves woudl be a huge inprovement and new doors on the bottom in a simple slab style then maybe paint the walls a mch lighter shade for sure then see how you like the space

I would repaint it with a soft white in an eggshell finish, then I would wallpaper the backs of the shelves and restyle. I like the above suggestion to fill in the niche and repaint walls a lighter color.

Replace the glass shelves with wood.

I think the white looks nice and would focus on updating what is displayed on the shelves -wood shelves is a great idea and would be a lot less fussy

I like the white better than black - and would paint them in the color of your trim, and add gold cabinet hardware to complement your new coffee table. BUT - are they built in, or stand-alone? If stand-alone, I'd dismantle the top, get rid of the open space in the bottom, push the sections with cabinet doors together, and center it on your wall with the tv setting on top. Add some great cabinet hardware. That will be more "today" than black. I agree that a new paint color in the room, and sheetrocking over the niche, will also give the space an updated look.