I worked on a space like this last year, and what we did for the client was to add a molding slightly higher then the second floor level, we then paneled the walls with raised paneling below the rail, painted all the raised panels the trim color and then added a rich, navy blue to the walls above the trim line. This had the effect of giving a more human scale to the room and also made it much nicer when sitting in the room.

You can consider removing the flat screen T.V. from over the fireplace and replace it with a large art piece as that of an abstract or design theme to create a focal point while reflecting and unifying the colors used in your color scheme.

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Byrne Design's idea sounds great for your room. Or if you at least continue the molding that is under the higher windows around the room you could paint darker above that for same effect. Also anything hung on walls should be eye level. Clock is way too high. I dislike TV's over FP's especially high ones, is there a wall that TV could go on and either sit on a console of be hung at eye level when seated?

People live in houses that have high ceilings. The trick is to ignore them. Keep everything at eye level and that's where everyone will focus. Take everything off the walls that will draw the eye up. If you have to have the TV above the FP, then add some tall vases or a large statue on the hearth to get the attention. I would not have tall vertical art on any wall. Make it longer and narrower. On smaller walls do smaller prints in 3's or 5's to break of the wall. Keep your plants less than 6"

Plants less than 6", Susan? Maybe you meant 6'? ;-)

Well, the way I grow plants, I'm lucky to get them to 6" but for anyone else 6' might be good. :>)