Looks like it might have been manufactured by Northern Furniture, or R-way (link), which is the same company (name change in 1949). You'd have to go a long way to find something made nearly as well today. Neo-classical isn't my style, either, but I wouldn't call it ugly.
If you break up the set into two (or three) different rooms, it won't feel so overwhelming.
I wouldn't dream of painting it, especially not before confirming the manufacturer, designer (if possible), and rarity. (I don't think it's especially rare, but you can't know till you do the research.)
Q