I would consider getting a corner/modular sofa and putting it in the bottom, left corner of the lounge room. I would put the TV on the shared wall between the lounge and kitchen, but with a "swivel" arm so that you can angle it when watching TV from the sofa. I know that the sofa will partially "block" two big windows, but I'm not sure the viewing distance is ideal if you have the sofa opposite the TV and this also means that you are left with a bit of dead space at the other end of the room while the "entrance" is very crowded. Alternatively, depending upon how you view TV, I would consider having two sofas opposite one another and placing the TV on the far wall between the two big windows where the console and painting is now. Of course, to view the TV you would then need to lie back on the sofas and if more than two people want to watch TV at the same time, then they would need to sit on the floor in front of the TV. Good luck. It's a tricky layout!

It is not a big space, it is a good size space. Something like this. Two sofas, one two seater the other a three seater. Two accent chairs. All pulled into the centre with coffee table, and small side tables. Then all the occupants walk along the room, not through the middle of room.

I grew up in a home with a similar living room, so have three points that you might consider. Most importantly, where are the walkways? If there is any kind of thoroughfare, keep it as clear and as direct as possible. Secondly, is this the only lounge space and if so, how do you use it? So many variables, and the lovely and clever Houzz people will need that information to really help you. And finally, and what worked for us, consider splitting into two connected zones. Table for reading, games and craft (or occasional chairs and coffee table) at end furthest from television. Settee against rhs wall (most comfortable side if you’re right handed) and two occasional chairs at 45 degrees along the lhs wall. Chairs that swivel, or are light enough to turn for conversation. Side tables at either end of the settee. Low, narrow unit or coffee table against the wall between the chairs closest to the television. Retain storage units each side of the fireplace / television and other end of the room. Putting them on the long wall will simply create a corridor effect **** Substitute beanbag for an occasional chair, or place nearby at the same angle, at television end and climbing frame next to furniture on far end wall. This would allow them to still be movable but to have an allocated space

Something like this. Get some blue painters tape and mark the size of lounges on the floor, and childs play area rug and toy storage. You can move the tape around until you get the best layout. In sketch, the left bottom corner is toys and children’s book storage.