This is a really awkward space! What about trying to build a unit into the corner which seems to be dead space. This could house the television and other bits like dvr,amp etc. The unit could then extend out towards the door in length and in height either up to the start of the window or up to the start of the blinds. I would suggest drawers for toy storage and books above. In this way you leave the windows clear for light plus it looks like you have a pull down screen so the tv would be out of the way of that. This arrangement would also hide all those wires and cables! Ikea have some good examples of storage which you could adapt or copy, such as Besta which illustrates the extended toy storage. http://www.ikea.com/gb/en/catalog/products/S39927155/

If you use masonry paint, we could head in a warm greige direction for all of it - not so yellow . .. something that can give you a bit more contrast against the white windows and trim - even 40 does a lot for us . . . what about a blue green gray? You will get a coastal / mod vibe and it will relate to the farmhouse look .. .above bm silver mink http://www.benjaminmoore.com/en-us/paint-color/silvermink and below . . . gilbraltar cliffs . . http://www.benjaminmoore.com/en-us/paint-color/gibraltarcliffs Shingle look siding on the side dormers would be neat to get that cottage mod. . . you can stick with yellow but I don't think it complements the roof tone. With the blue-green grays, the white windows and trim will really pop beautifully. . . You can also go more neutral with a warm gray - greige . . . here's the siding tone http://www.benjaminmoore.com/en-us/paint-color/capemaycobblestone paired with this for brick - http://www.benjaminmoore.com/en-us/paint-color/graystone potential future red windows . . .aluminum pits over time, so if you have just one side you want to try, you don't have to powder coat, you can take a small brush and just do them by hand with latex paint if they are 10 yrs old or more. . . one advantage to gray . . future see [houzz=]

Well, for lack of a better idea, since you find it a drafty little space. I'm assuming the draft comes in on the right? Most of the necessities in the area are located of the left side; i.e. vent, thermostat, light switch etc. What I would do I think is caulk up the drafty spots, maybe even add sized poster board wrapped in batting I covered in a gorgeous fuscia with diagonal grosgrain ribbons every which way covered with a heavy velvet to be attached to the area above & below the window. (Of course remove the drapes that are hanging in there). This for the purpose of using it as a pin-it board for notes. Attach a table height board covered in felt to carry across the full width of the little room. Leaving just enough space for a comfortable little antique desk chair. Paint the back wall a bright cobalt blue, paint the ceiling a silvery pearlescent white. Find a way to attach a clip-on task lamp. And stretch a heavy duty enough wire across the top of the opening and complete it with a heavy doubled velvet drape with a drooping valance. Place a swag with fringe & jewels on it to be closed when not in use. Voila intrigue is yours!

There is nothing worse than ceiling-mounted lights--harsh shadows, flat lighting. They are strictly for utility. I would put a large-ish, shallow cylindrical shade on them and put nothing more than a 15-watt bulb in them. Use them strictly for lighting your way as you walk through the room. I agree with Vincent; the chair in the corner doesn't fit at all, nor does the one under the A/C unit (put that one with its mate behind the love seat). And the curtains look smooshed. I think the problem with the bookcases is that they are uninteresting. Did you buy books-by-the-yard? What are all those identical books? They are visually uninteresting. I'd get rid of some of them and get some colorful ceramics/glass/photos. The room is absolutely overwhelmed with furniture. It needs one less love seat. Do you really need all of them? Pushing them against the walls/curtains so tightly just visually emphasizes the fact that there is too much furniture. I don't think a mirror above the fireplace will work. When people are sitting down (which is most of the time), all they will see is a reflection of the ceiling--the plain, white ceiling. Get some real art in there with some color.