So the door on the left is going to pose a problem as it opens to the wall, this would put the cabinets/shelves off center. This might be okay since the valance on balcony wall extends over. It seems too that they would need to be a shallow profile so that you could preserve the flow to and from the balcony (not hit them with objects or elbows). Could you tape out on the floor, then measure the maximum distance that the cabinets/shelves could extend without hitting them? Leave the tape and practice walking by with out stepping on the tape, see what that feels like. I think that you may have to settle for shallow shelves. I would lower and replace the light fixture to about where the clock is (tape this too for visualization) with something like wall mounted track lighting. (see pic) Are you going to paint as well?

You don't necessarily need only paintings as artwork. You can put some floating shelves near the dining space with some good crockery like plates or tea sets which can be used for occasions as well. On the wall in the living space you could keep either traditional or modern show pieces.

I have some suggestions if you are thinking budget friendly changes. Make a photo gallery with different size frames and arrange them parallel to the stairs, so you can enjoy each photo as you climb up. And for the area that will be on a level with your upper floor, try some pretty decal that will connect the photo gallery to upper level. And last, if you have budget add some beautiful hanging lights in the stairwell. Also think about repositioning your refrigerator.

Hi Princey, Please answer the following queries before we begin to guide you - What will the wall shelves house? In which room are they being placed? What size are you looking for? Regards, RnD Atelier Nagpur