Do you need more storage, like another cabinet? Or storage? I don't think I'd go for symmetry, but just balance. You could have an arm chair and reading lamp in the other corner. Or a freestanding bookcase. Or a highboy dresser with a floor lamp or plant next to it. There are a lot of ways to go that don't require structural change to the chimney or walls...

I could definitely use more storage- thanks for your advice!

If you don't want a reading corner, which would be very easy to create without built-in bookshelves, then suggest visiting the Chairish website and doing a search for armoires and wardrobes and getting a vintage piece for under $1000. You can filter the search to show only items within a reasonable distance from your house to save on shipping costs.

These also come in white and other painted colors.

Without knowing what the other side of your room looks like it's hard to makes specific suggestions for a reading nook -- what kind of chair, lamp, decor, etc. One thing that might be fun is to use an arc floor lamp to define the space of a reading nook, putting the base in front of the bump out and arching the lamp to the left, over a chair, with a small book case table and some art work, and a small rug and footstool to define the space.

If it were me I would get a tabletop riser or box to set the TV on, just to raise it up a bit.

for a reading nook

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If built-ins are in your budget, the baseboard heater should not be a problem. A good carpenter will know how to design around it. I live in NYC and loads of people get built-ins here that are designed around heaters.

If you don't want to invest in built-ins I would get another chest of some kind and have a long, interesting runner that goes in front of both with the front feet of both on the runner. It will help bring your attention to the runner and not the bump out. You could also have 3 pictures that match the two above your bed and hang them vertically on the bump. Using instead of ignoring the bump out might make it disappear more. Lastly, your bed wall is so cozy. You just need to up the cozy factor of this side of the room too so it all feels connected, and again takes attention away from the bump.

I would see about adding a storage unit (something like a Pax cabinet from Ikea) to use on the left side. It'll stick out a little further than the bump out, so if you wanted you could add trim and molding to it the built-in look. It would add some useful storage too.

That's really pretty!

If you wanted an armoire you could get one that was more urban, modern, or atmospheric for your overall look. If you wanted a reading nook, a more modern chair than I showed in terracotta color, or blue or mustardy yellow would look good, or sage. Pretty much anything is going to look great.

or reading nook with lamp and bookcase but modern chair and artwork

Eventually I would think painting your white chest a dark color -- or the color of your lamp bases would be nice. And hanging the TV on the wall.

You could make the space look even a few different ways. You could try a console with artwork over it, an armoire, or a reading chair with a floor lamp.

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You may not be able to do built-ins but you could do shelves. You could even make the bump-out wider so that you could mount the TV on it.

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Another consideration: