What is your design style...transitional, traditional, contemporary, etc. It looks as though this room opens onto another. It's always best to consider the entire area and not just one element at a time.

Add a full fireplace mantel over the stone leaving some stone showing on the inner part. Paint the whole mantel black. It would compliment the stone. Or go with a white mantelplace to go with white woodwork.

Some images to help you with your fireplace design.......

Agreed, we would need to know the style you are looking for since there are so many possibilities. Here is a contemporary example with minimal details.

Thanks everyone...our style is "transitional"....this room is now completely "gutted" and all walls have been taken out. We're starting from scratch, and I think I'll be taking this stone off and redo'ing the fireplace. Thinking of framing it all the way to the ceiling, but unsure if I should stucco, stone facade, or something else....thanks for the pics!