ick one wall, not all of them. The one you see first when you walk in, or the wall behind the bed or sofa, usually works best. Keep the other walls plain so the paneling stands out. If you're unsure, tape up the panel shape with painter's tape first and live with it for a few days.

There are a number of items I would address before I considered adding wood to the walls. I've made some changes to the room just so you could see the possibilities.

This is going off of what Beverly suggested but adding the wall treatment that you were wanting. I think that would be really nice to pull you eye to the back of that space.

I agree with Emily about adding some thing to the back wall to draw the attention back there.

Some inspro with wooden slat

Or you decide what wall to use on your liking