We downsized a couple years ago. Here is a copy of our floor plan and a couple LR pix.

Will this be your main entrance into the house or will you be coming in through a mudroom or garage entry? If it's just for guests, I would put a small doormat in front of the door and use 4 chairs arranged around a round coffee table.

Add textured woven blinds and panels to the window to soften it up and an area rug to ground the arrangement. If there's wiring for an overhead light, find a 20-24" chandelier to hang overhead since you don't have a lot of room for floor lighting. You don't have much space for any type of formal foyer because when the room was designed, they should have put the coat closet closest to the door and moved the office door down to the end of the wall.

You think Fomal Is a meaningful occurrence? Usually becomes the room you dust. You're atop a very public entrance. ..........

Treat it as public.......use the dining for a ??? The room labels are "ignored"

Use it as a cozy drinks room,,,,,limit dollar devotion, and know that rooms without tv capability often ........go unused

OR......................THE USUAL : :)

We don't know how large a family, how many you need to sit. It's the only room we're seeing. But a nice big dining room, often turns out to be needed more, than yet another generous room for fannies and chat.

Especially a room with a entry door to elements and PLOP yoiu are in..no FOYER

A rug, is th best beginning. Ditch the lousy blinds. Curtain panels, Some nice case pieces....TV no tv...

And all the visuals of furnishings? Are not helpful until you determine best USE of the space. ....and if "formal" means anything in real life: ) Ask how many times you get dressed up to go to the homes of your friends?f

Or? Ask how many you'd like to serve for the holidays.......

It wouldn't be my fave, but it's not all that unusual to find houses where the entry takes you right into a living room, surely?

One of my favorite fictional homes shows one way it can be done. Follow the links to see how they handled it in the Petrie home on The Dick Van Dyke Show.

https://www.flickr.com/photos/24706947@N05/albums/72157629069510836/

https://www.myimaginarytalkshow.com/2016/09/06/dick-van-dyke-show-living-room/

https://www.mockingbirdlane.design/post/in-depth-dick-van-dyke-home — this one has a floor plan, and points out ways in which the fictional house deviates from many real-life houses (to accommodate lighting and camera work).

https://www.youtube.com/watch?v=qrH9vOENr38 — 20 minute video; possibly much more than anyone but a diehard fan would want to sit through.

I note that there is actually a television in the Petrie living room, but off-hand I only remember young Richie sitting in front of it to watch. When the Petries entertained, the adults congregated in the living room.

Great that you have a closet.

See the sliding door in this photo where your closet is? Consider painting the doors the color of your funiture. Fun!