squeakerd - it is really hard to get a perspective on the whole area but if this is part of a much larger area then I feel you need to first decide just what you want as the end result. Do you just want your entire area to be one open plan or do you want to break it down into visually defined areas within the open plan. As you have the area now, I don't feel any cohesiveness between your table and the sideboard, I think I would move the sideboard to the end wall, it looks more like it would belong there, even just by the shape of the room. Definitely a larger rug will define the space better - just be careful of any trip hazard with the door nearby - but before you decide on the rug, consider window dressings and whether you want things plain or introduce some bold patterns and what colours look best in the area. Artwork can go where your sideboard is now, but again think colours and impact of design on the whole area. It is all very well to build a room around one piece, but you need to look at the impact that piece will have on other items and what limitations it could cause. I would suggest you set aside some serious time to look through photos on Houzz, especially if you can find areas similar to yours, till you find what appeals to you, put the photos into your ideas book and use that to build your room. I have found this invaluable in the past and it has saved me many an expensive mistake.

Steel for sure! Dunno what it is, but wood looks startling when mixed in with the silverware.

You could install racking for both sides of the room, toys & clothes that aren't being used can go into large plastic containers with lids. The two bikes could be hung from the wall or ceiling. And yes, anything that doesn't need to be there, move it on. There are so many hooks and storage options available that it would be very easy to sort this out and by getting a lot of it off the floor.

Here's a couple of ideas that work really well as alternatives to a walk in pantry. They integrate into your wall cabinetry, allowing you to keep central spaces open and free flowing. Using drawers to create a pantry as Esselai suggests. Check out how Harn Triomax soft close drawers are used in just this way. Availble in classic white or metallic grey. Two front to back depth options - 500mm and 5500mm. And 8 drawer width options from 450mm to 1200mm. Alternatively, there are a number of quality pull out pantry options in the German designed and made Vauth-Sagel range. Some are installed with fixed fronts to match your cabinetry, and others are installed behind hinged doors. See below (from top to bottom) the VSA model, DUSA model and HSA model. These all come in a variety of width options and specs, from chromed wire shelves to sold bases with glass panelling.