I recommend either Bona fide beige or realist beige. Both are from sherwin-Williams

The room would flow better with two designated areas. I would mount your flat screen TV on the larger wall where you currently have a small "Love" painting and move your sofa in the middle of the room. It would allow you to set up the unflattering workout equipment behind the couch. I would then purchase two ottomans (can be moved around, won't get in the way) and a TV cabinet for all your electronics. And yes, loose the mantel, it is outdated! Good luck with your design project!

Change the paint color and drapes. The room is dark I would lighten it up with a light gray or beige and drapes to match the ones you have are too dark. Brighten up the room to make it feel more inviting.

Like all the suggestions! Anyone have suggestions what to do with bookshelves/cabinets and mantel? If we should paint them what colors should we use? Also, mantel ideas would be great!

Fresh up the room with a neutral color, base your choice on the tones of the stone on the fireplace. Also you could repaint the built-ins by the fireplace with a coordinating neutral shade (maybe just a pinch darker than the walls to create some contrast). The drapes could also be a lighter fabric, like a beige. If you want to make the room feel a little bigger you might consider adding a mirror above the fireplace.

Here's couple of pictures maybe for work you.