I think I might use the window end of the room as office/husband clothes, and the area near the door for baby space. Babies are very small in the beginning, you know, and aside from a crib/changing set up, they don't take much space! I think I would try to go as vertical as possible on the office end of the room, losing the big dresser and black storage unit for more efficient light colored pieces that don't seem so bulky. Get some white Ikea units and take them as high as you can go, with colored bins (labeled?) for storage of dresser clothes and music/office things. You could even stack something on top of what looks like a white built in shelving unit. I'm guessing that's at the end of the closet. I'd put baby's crib on the long wall to the left of the door, with a shorter dresser you could put a pad on to use as a changing table on the short piece of wall left of the door. Over by the end of the closet (by the assumed shelving end, as I mentioned) you could have a mommy/daddy rocking chair, very small table with a night light. Easy enough to move as you may need to access that storage.

To kind of separate the room(s), I'd look at doing one of the panel track curtain systems they sell at Ikea, running through the room from the long non-closet wall out about halfway into the room. Open or close as light and baby nap time requires. Congratulations!