I think if you paint the walls a warmer color and add curtains, that would help balance the room.

Put panel draperies on those windows, in a graphic print or paisley. Colors pulled from your rug. Place one of the print pillows on your couch to pull it together. Also some solid pillows with more color will help...one on the leather chair. Move the fern to the smaller round table and get a nice table lamp next to the couch to draw your eye upward and give the space added height.

You could also consider changing out the light fixture to create more of a focal point in the center of the room, and fill up some of that upper "emptiness" you are noticing. If you choose a dark finish, that might help unify the upper and lower half of the room. Here are a few fixtures that might be a fit.

These are all available at http://www.progresslighting.com - the collections are Riverside, Orbitz, Meeting Street and Invite. Hope this helps!

I think you have tons of natural light that is kind of being restricted to just that one side of the room because of all of the darker colors. Changing the colors a bit, maybe to more whites/ivory accented with black and light blue could pull in all of that natural light more. The carpet might be making the space seem too crowded, but it's a little hard to tell. A smaller rug/carpet might give the room a more fresher look. Also, some greenery can always put a nice touch to a room!

The light simplicity of the top half is a nice counterpoint to the rich bottom half. You could add curtains--ceiling to floor--but I don't think they're necessary. The one thing I would do is change out the light fixture to a lower hanging chandelier. It will help bring the light down to the living space and make the upper half of the room more shadowed.