I vote shelves- but another idea is to do black and white photo array. This would be fun and contemporary and adding a conversation piece to the room. Use photos you have or you can find some great ones at Homegoods or Aaron brothers.

If you love that wallpaper, use it in bathroom. Not really right for behind bed. I would go a drum style chandelier. In a silk pale gold. Your bed looks zen or Asian to me. I love it. But, you don't. Need to much with it. Keep it simple a more formal drape on windows, color would depend on wall color and bedding. I'm thinking a dramatic peacock satin. Use a lighter same tone on walls a rich teal. Ceiling can be gold leaf. With alight that cast shadows on ceiling at night. Then your wall paper will tie in. Furn should be mirrored.

Thank you for posting the pic. Is it just open space opposite the chairs and a blank wall with the entry door? Any windows on that wall? Is that a table showing on the right of this pic, or a counter between living room and kitchen? My first thoughts are that those chairs must be pulled away from the wall and angled in some way, and somehow you need to find space for more seating. Could you angle them towards each other against the room divider, or is that a cupboard you need access to? Then you could turn the table 90 degrees, and place other seating facing the chairs. I'm liking the idea of picking up on colour from the green glass on the table, but I'm not sure how yet. I have a busy day ahead but I hope to check in later.

Perhaps a large round table might mean a rug is not at all necessary. It could be a metal tray table, or carved wood like Rebecca Mitchell Interiors illustrates. Ideas also to consider, using multiple tables can be found at http://www.houzz.com/multiple-coffee-tables. I also agree with comments above that some color is needed on the walls. You could then hang round mirrors, or an unusual curved shape like RMI shows above.