Wow - that's a toughie. Do you mean the blue? The other color (not sure what it is)? Is the blue in the middle of the room a tablecloth or is that the color of the piece of furniture? I'm just asking these questions for a better idea of what you're hoping to change.

As I look at the picture without knowing for sure, I think I'd lose the curtain over the window, paint the walls a shade of white, and put in better lighting.

What is along the sides of the room? Is it storage? Do you need it on both sides? Removing some of those "blocks" would help with the "open" part of your dilemma.

I think wall sconces in gold/brass tones around the room would help add elegance with a little glow and sparkle. The overhead light fixture also appears to cast a harsh light, so I would want to change that, too. The exposed bulb looks quite glaring, so frosted glass or shades on all the fixtures would help soften the light.