I would paint the entire fireplace including the mantel, all trim and shelving white. I like the Whisper White, but you must bring the paint samples into the room to see for yourself. The sheen on all woodwork should be semi-gloss, easy cleaning and looks crisp. I agree with painting the walls and I would paint the part above the mantel the same color as the walls, Summer Hue is beautiful, but once again I have no idea how that would look in your room. The walls should be flat most brands make a fairly easy to clean flat. If the fireplace were the focal point of the room, it could look very cool and dramatic to paint it a very dark gray almost black. But at least in this picture it seems that the entertainment/shelving unit is the focal point. hmm .... better stop while I am ahead.

If you want your plant to grow above the balcony edge, you need one that grows tall but is pretty resistant to wind and sun. How about bamboo in a planter. They grow tall and do a great job (all year round) of hiding what is next door. They are fairly low maintenance and self-sufficient once established. Cons: They do cause a lot of leaf drop - some species look pretty awful in the winter... but you can find some that are beautiful. Go for a clumping bamboo.

I would break it up into various rooms, approximately 10 feet by 15 feet each, though a longer one with a long narrow (2 feet?) water feature against the wall and seating and plants in the center part would work. Plants on the wall, making it vertically green. A path leading from room to room should jog, so you cannot see straight through. Change the theme of rooms, large fancy pottery, an outdoor dining area, sunbathing area if possible.

Your room is big and void of color. Yes there is too much brown. If not replacing. Add light colored pillows big in a cream print. Add teal to mix. Get a 8 x10 area rug. Go cream base and a contemporary design in very bold colors, red, yellow and black, teals mix it up. Can you get regular chairs. Those look like game chairs, can they go in kids room? Pull sectional into room out of corner face TV wall. With big rug and a 36" ottoman square. In a color. Maybe zebra for fun. On TV wall. Get a wall to wall floor to ceiling or close to it wall unit. Ikea has some go white. Get. Long low media cabinet. Also Ikea in white. Place TV on top. Fill wall unit with colorful pots candles books. Just don't over do leave 50% empty. You could paint that wall a darker (2) shade of walls. After you have centered sofa in room more. On wall behind a very large art contemporary 40x40 hang very low. On empty wall in dining area. Get a long 6-7 ft chest. Something different. Asian feel red lacquered would be fun. Over it add big art piece bold colors 40 x40 hang 6" above top of cabinet. More art big by dining table. I would change chairs to a high back leather in Teal. Pier one has them. Your whole place needs color. Area rug under table 8 x10. Solid teal. Add big palms in corner to fill and warm up space. In chairs get two swivel barrel type in a print. Modern go taupe and blue/greens. Wi Dow panels on ends only in teal. Ck bed n bath. TJMax a good source. For art ect.