first I would find an area rug you love, large enough to ground/define the space.

I'd keep the furniture light to make the small space appear larger, more open.

Swivel chairs, glass top coffee table. I don't see the ceiling, but I would consider painting it darker, so it brings it down a bit. Black spindles are fine, but do you want dots of black scattered around a white room? I'd think about painting all the woodwork the same color you choose for the walls. Whether light or dark.

Decide whether it is a lake in the woods or a fresh natural lake house vibe.

A giant abstract painting can dominate a wall, instantly transforming a room. For example, a massive piece with dramatic splashes of color above a sleek, neutral sofa can create a breathtaking focal point that defines the entire space.

The cooler tones of black and white will be fighting the warm tones of your floor, trim, and fireplace stone. I’m not sure if the style that black and white portrays will work that well with the existing architecture and built ins of your home.

I have never seen a truss beam running through a room at 7 ft. How did that happen? I would at least learn if the support can be moved up. Call in the Amish if necessary