You need a nice large area rug. Remove the miniblinds from the window and get some panels to frame it. Is adding recessed lighting a possibility? I think you can whitewash the fireplace to help lighten it up. Your walls need more/bigger art, which help. It’s a lovely room!

Since this is a a home built in 1910, I'm going to guess it is Craftsman style. Natural colored woodwork would be most authentic. If everywhere else in the rest of the house it is already painted white, I guess you could paint it, but that makes me cringe. In the '80's - '90's when my friends and I were all buying our first homes, the people who got old homes spent hours removing paint from woodwork. Now apparently the Millennials have come around and painted it all again. :-) Everything goes in cycles. My suggestions would also vary based on how you're going to use the room. Would taking the room from dark and depressing to warm and cozy work? That wouldn't necessarily be light and airy, but would be suitable for a home office or TV room if that's what you're going to use the room for (unless the person using it for a home office likes light and airy). Your floors are a warm color, therefore be careful to use warm colors on the walls. The gray is definitely oppressive. Look at BM Historical colors. In character with Craftsman style would be ochre, a rusty orange, or olive. If you're not as interested in replicating a historical color scheme, just use a warm white. However, don't paint this room without taking into consideration how the rest of the house is painted so the whole is coordinated. If you do decide to paint the woodwork, paint the walls a slightly darker color for contrast so the trim has a little pop. IMO, the wallpaper suggested above is not in keeping with the style of this house, so unless it is going to go with the rest of your house, I would explore other options. There are definitely Craftsman wallpapers out there, but they're usually not done in light colors.

Some simple budget friendly swaps taken right from your inspiration photo!! …the mix of decorative pillows on the sofa would look great on your sectional. A large green plant for your corner. (May need to move/relocate one or both floor lamps.) A woven or wrapped cage basket on your hearth for throws. A couple woven trays (2 different sizes..1 smaller, 1 larger) arranged with some of your smaller plants with some brass decor included on the mantle. Furnishing the entry with a nice console table with organic decor and a bamboo coatrack between the windows will carry the feel into that space too! Perhaps a long console with shelves for your books behind the sectional. Edit your small decor…when the budget allows, bring in larger but fewer items.

I would rethink the black roof. Take a look at charcoal. Its a better look. The look on your inspiration photo above, shows a charcoal roof, not a black one. The red isnt a pure red, it has a more rusty tone to it.