Beautiful room. I would start with a large piece of art over the FP. At least as large as the fire box. Once you find something you love and hang it post a picture here in the comments for help with the sides.

I think I would do a matching cabinet on the other side of the FP and hang a nice piece of art there to balance the TVI do not like the chair squished into that corner and useless for seating if the TV is in use. Do I understand you are getting new furniture? Maybe paint the FP wall jut out a different color and then some nice taller decor on the mantel .If new furniture is in the futurs please do not do anoter sectional since I assume this is the only place for TV watching and entertaining. I never like FPs and TV in the same space but sometimes no choice. Get a soafa and either keep the chairs or 2 new ones than arranging the furniture will be aeasier. We also could use a to scale floor plan posted here in jpeg format in a comment DO NOT start another post.

Thank you for the great ideas! I appreciate seeing the scale of the picture over the fireplace and the bookshelf idea, I don't love the idea of all open shelves as, there is more stuff in the open and things I have to dust, haha. So I would try to find a book shelf maybe with some closed and some open shelves. Here is a floor plan scan and another picture, where the 2 swivel chairs looks out to a beautiful view (which we sit in each morning) so I don't really want a couch against that wall to obscure it or lose our morning "view"

My husband and I got the dining room table and chairs when we were married 24 years ago, when we were moving and talking about changing it up, our kids said that table set was really important to them as it was the only piece of furniture that hadn't changed in all our moves (23). So they are sentimental :)

You can find tall narrow cabinets in place of open shelves

If you usually sit in the barrel chairs to look out, that's all the more reason to keep them from feeling/looking crowded. I'd move the TV cabinet to the other side, and balance it with a nice reading lamp and some art on the left. Then get a couch that faces the fireplace wall straight on, with another chair on the right for conversational and view purposes.

Thanks again for the bookshelf option and ideas, my husband watches TV when making dinner and it would be out of view if we moved it to the other side of the fireplace. And sometimes practical living is more important than design especially if I get dinner out of it 😅

I like the arched book shelf look, albeit it is open. If I could get it 8' tall (I think that seems to be the scale you have suggested) would that work?

What about trying a large piece of artwork over the TV lift cabinet and then maybe look at a tall storage option for the other side of the space. Here are some images to help more:

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