This room has great bones. And although I love the rug, it's a bit too small for this space and makes it look smaller by chopping it up. An 8 x 10 would probably work well. If you can't afford to buy a larger rug...scoot the sofa closer to the rug. I would also switch out the ottoman for a round glass coffee table, which will allow you to still see the rug. A long and narrow sofa table behind your sofa, with 2 lamps on each end and some other decor...a bowl in the center perhaps would look good. Also, drapery panels on each end of the window will do wonders to finish and warm up the space. Hang them right below the ceiling and brushing the floor. If you have an IKEA, check out their drapes. From $4.99 up to $65.00 and beautiful. Some really great patterns too. Here I might consider the velvet ones in chocolate brown or bone. They all are 102" length and hemming tape is included which you iron on. Easy. The wall color is fine.

It is beautiful, nice clean lines. Maybe an accent wall in another color, or accent pieces with color? Love the fireplace wall. I thought maybe wall sconces for additional mood lighting too?