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 .

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Pooja's placement is what I was talking about, if you like the NiTi has placed it, shifting the wires is not as expensive an affair as you think it to be. you can pull them from the false ceiling. another thing you can do is use them as two separate pieces. have a C side table that goes under the sectional for a built in side table look for the right piece and use the left as a chaise. You could also shorten it. that will be cheaper but you'll need a skilled craftsman otherwise the structure can be compromised. since you're planning to reupholster, shortening it is also a viable option.

Proportions in this bedroom are out of place. The bed is quite large and bulky to look at, and it covers most of the floor area. If you are planning to change the bed, then you can replace this with a smaller bed, preferably a floating bed(with no heavy storage beneath). It will give a sense of larger floor area. Next, the sofa/couch can be replaced with a narrow wooden console/table against the front wall. The artwork which is now hanging above the headboard can be kept/hung above the wooden console. The console can also have other accessories to decorate it. Now, the ceiling is not visible in your photos but the walls can change the look of this space immensely. Dark tones will close the space in and the room can look like a small box. You can go with lighter shades/hues for all the walls and add a texture/wall paper on the headboard wall. If you keep the same furniture, then colours which you can choose from are:- Light/pastel shade of teal Mauve or lavender Very light shade of pista green. The headboard wall can have a deeper texture of the same colour and you can hang a round decorative mirror which will reflect more light in the room. Make sure to choose curtains and bedsheets that complement the wall colour. These are my suggestions. However, it’s always better to take more opinions. Hope it helps! Do share the pics of the final makeover!