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?