Since your pantry is mostly walking space not pantry, I would push the kitchen back and add the space to the kitchen and make it into a "U" shaped . The most wasted space is the over sized hall that is called a living room, which I would distribute to add a closet to the master, close up the with by adding to the bedroom (11x10) and the bath which will work as a Jack & Jill bath with the extra space

You will need space to walk and for your feet if you turn the chairs around - if you put a divider in you will block the view from the dining table out to the balcony - and thus make the kitchen and dining room both have no view ! So if you keep it open, the natural light can get through !

In that space you will only really have room for some seating and a DR table and chairs I would be looking fo a long low shallow unit for the media pieces and hang the T.V. on the wall 10.5 ' is very narrow. The room in these pics is almost exactly the same size as yours , if you see where the empty fireplace is that is where I would put your T.V. and then wap the bench for the sofa .

A sketch or pic would help...but just on principal I would pick the location further from the kitchen