Hi Janine, Like TanCalGal suggested, an area rug or carpet could help set a color scheme for the room and help to start the ball rolling to piece together accessories and decorative items.

I love medium-dark grays with orange. Super light baby blue also looks nice. Cream is a good idea too as long as it's fresh. Finally, another one I like with orange is palm green--but it has to be used carefully. Some pics that caught my eye.

I have frequently seen coffee tables that look like chests while looking at leather furniture in the stores. We thought they were so great we bought one that opens for storage and currently use it as a coffee table in our LR and we also use it to store our off season linens. An aged wood look would work well with your beautiful leather.

Hi there! That's a very thoughtful gift you are giving your parents! If you were also changing the curtains and maybe the pillows - in other words a mini-makeover - I would suggest a very warm beige, such as Ben Moore Elmira White, below. Some bright art above the sofa, and pillows in prints of navy/cream/red would make for a soft and sophisticated palette. If it's only the wall colors that will change, though, I lean toward a soft blue/grey/green for a little more impact and interest. Suggesting Oyster Shell, below, to get you in the ballpark - although, I have a feeling you are not in North America, therefore, no Benjamin Moore? Showing below a dark blue to approximate the furniture color, and Oyster Shell last. That's such a wonderful gesture to be doing this for your parents and, again, I congratulate you! PS - if you can find it in the budget to get them some art for the wall behind the sofa, it would really being this already lovely room to life!