This space is very unusual and anything too sleek and modern would look odd. Definately not black leather!
I think go for 2X 2 seater plus a few armchairs rather than a large monolithic sofa. That way you break up the bulk of the sofa and can play with the arrangement a bit. I think maybe having the armchairs mismatched with patterned finishes would look good. And then the 2 seater couches matching. Perhaps in a navy blue or burgundy, but I like the use of mustard yellow, pink, grey and burgundy in the linked room. Then look for a large imported rugs, either from India, pakistan, Iran or afghanistan. Rich patterns would look great. That will give you a square/rectangle shape to arrange the seating around rather than the walls.
Fancy lights and curtains, beautiful floor, yellow posts...I think they clash so would you paint them? fianou's suggested colours and scheme is good.
or if you want fancy then white shag, bronze/gold or chrome and glass side tables, white chairs and a touch of turquoise plus plants.
If keeping your current yellow and orange, then bright white ,white ,white everything else.
If anyone plays, the window would suit a grand piano.
I strongly recommend white pillars -- that sunshine yellow isn't really comfortable with the more gold colour of the walls. And I popped a burgundy sofa in the room to try it for colour.
Looks like Marsala.
Yes, it does look like the famous Marsala, doesn't it?* Close enough not to quibble. Chook, what a great array of inspiration pics.
*Anmol, if you haven't come across the colour, it's Pantone's colour of the year for 2015. Have a look at http://www.houzz.com.au/discussions/3287045/2015-yearbook-poll-pantone-marsala.
Anmol, one can get curved sofas, and I think that if you had one -- in the main part of the room, but with that window as a background, it could look fabulous. They're not that easy to get, and I think one pays quite a premium for the shape, but worth thinking about. This page has a whole lot of them, and it's where I found this one: https://www.pinterest.com/explore/curved-sofa/
The pillars are pretty weird... but I think just embrace them and I would add some interesting patterns and art to it or to them or wrap some bright pom pom bunting up round it.