If you have an eat in kitchen, would you consider making this living room/dining room into a great room. A lot of homes now dont have formal dining rooms. It all depends on your lifestyle. I like the idea of the convertible table if you do need to use to dine.

Hi Rich! Welcome to GardenWeb. Whether you eat on it or not, it's good to have a table somewhere in the living area of your house.

I've managed to find room for a table in a studio apartment, so you may not need to go to the expense of a convertible hutch. You could have the sofa and love seat face one another (instead of the usual L-shape) and float them in the center of the room. Then put a small rectangular dining table directly behind the back of the sofa.

Photos of the room would help a lot. Open a photobucket.com account and post your photos there, then provide the link on this thread.

Here's a possible layout. The loveseat and sofa face each other. An 8 x 10 rug anchors the seating area, and a glass coffee table provides functionality with lightness. You can fit in a 48" round table, which seats four comfortably in the available space. There's plenty of room for electronics, books and what-have-you in a storage unit, which I've shown as 22" x 84". A chandelier over the dining table, a couple of plants to soften the corners.

Pictures would help and measurements where doors and windows are too. Suero's idea looks great as long as there are no doors where the furniture is.
Below is a couple pictures of our sunroom which is used similar to what you are wanting only more dining than living area. I though the visual of the space with an overstuffed loveseat and chair and a dining table with a leaf in it looks.
These were taken when we first moved in so things were all finished, but you get the idea of space at least...
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Forgot to mention our room is twelve feet by nineteen feet some some odd inches. I usually just say it's 12x20. It's very close to your room size though. Because of all our doors and doorways we are very limited to how things can sit, but I've found ways to make all sorts of things work. When it comes to space management I've learned over the years if there's a will, there's almost always a way. Sometimes that means changing what furniture pieces I use in a room according to their scale, but it's most often doable.