I think the yellow and grey might bring out the gold-ish-ness of the couch.. I'd try to go with more blue colors.. Maybe some navy pillows and a rug with the blue in it as well. The curtains, that ying-yang rug, and the lilac rug just gotta go.. They're dwarfing all the sophistication this room will be able to have with that tile floor and those big beautiful windows. I love the dining room chairs!

I would get a coffee table similiar to the one in your other room. This area is small so I think a glass top for this room would be best. Try a round table with a pedestal. That would give you more leg room. Because all the cushions and the drapes have a pattern I think you should choose a rug with no pattern. A solid light gray would look nice. To contrast all of the smooth textures of the red upholstery and the dining chair's cushion, pick something with a high pile. Very soft! Change out the pillows on the sofas to a soft gray on gray pattern.

Reupholstering furniture is expensive. Do you think Red + Mustard or olive would be okay ? Should i add neutral colors in the place surrounding the sofas (like rugs, curtains, wall pieces) to minimize loudness? I'd flip this around. Go with neutral furniture - - bring color and texture in with area rugs, draperies, accent pieces...

Choose a contrasting color to the sofa, while choosing keep light requirement of room in view. So for that you should use light color curtains only, such as light golden, cream, Off-White.