The architecture of this room is wonderful. I love all the windows and the high ceiling. I would recommend painting all the walls a cool mid-tone gray and the ceiling a cool white with gray undertones.

This could be a gorgeous room. Those windows are to die for, and it looks like you have a great view. Please remove those valences from the windows.

It would be really helpful to see your actual furniture to make further recommendations.

Let's move those people out of there and paint, shall we? Here is a selection of grays with a brown bed.

The size of the room can easily handle the darkest shade #3 of groveraxle's examples. Do paint out the window frames and change the ceiling fan.

Thank you guys for these wonderful suggestions. I love the light gray. What do you think about painting one side with light brown or fresh bread and the other 3 sides with champagne? What color do you suggest for the window frames? I like to keep them close to their actual wood color.
Groveraxle, what program do you use to apply these paints and adjust furniture? This is amazing.

I wouldn't paint until I found bedding that I loved. Then pull your wall color(s) out of the bedding. Look at it this way: paint colors are infinite; bedding that you love is finite.
Pick the bedding first!