There are tons of papers available that would go with your midcentury home. Many people tire of a paper quicker than they are ready to redecorate and they can also look dated in a couple of years. Metallic papers were big im midcentury...perhaps a metallic silver paper? Are you also considering paint? You can get it in so many textures and a blue wall to match the blue in your loveseat would be lovely with some midcentury art and sculpture, or photographs on it. A mirrored wall with or without art or sculpture would also work with midcentury. These treatments are easier to adapt should you wish to change the look slightly from time to time. I would suggest replacing your stairrail with chrome or acrylic if that is in the budget...see how well the loveseat frame looks with the fabric? I hope you will post the "after" photos for us to see. Above all, enjoy the process!

I love sky blue and want to paint my room, so i think it depends upon choice and likeness

Hi Anna, I used leather for the recovering. This made things easier as it stretches quite a bit and is very forgiving. I used one piece for the backs. I stapled one end of the fabric to the bottom edge of the back, then wrapped it around back to just over the staples, folded under the raw edge and used upholstery nails to secure.

I would avoid using dark colors in a room with wood paneling as it would make your space gloomy. You also don't need to match the dining room set. I would go with a very light and fresh cream with very light brown stripes. You could also choose something like this (https://s-media-cache-ak0.pinimg.com/236x/57/8f/6a/578f6abfb4e7b991e594b64cf4f2c174.jpg) to add the blue to the mix and have more colors.