Since everything that I can see of your room is beige to brown I would opt for something completely different that will make your room come alive. I'm thinking rust red, medium blue to navy or a soft green. You could then add accents such as pillows, throws, art, an area rug, etc. in that color to pull the whole look together.

One of my friends was trying to suggest that I use a color like Sherwin Williams' Reflecting Pool, something completely different like you said, and then add accents. I thought that sounded like it it could be really pretty, but it was scaring me off a bit as I feel like I would have to make so many changes to pull something like that together....and I have no confidence when it comes to decorating...

Do you think the red tones in the cherry woodwork limits my options?

Sorry, one more question, do you think it is ok with the accent color to just do this wall that juts out and leave the background the same?

That color your friend suggested is very pretty. You could certainly try that. Since you mention your furniture is reddish this might be a better option than a rust red wall, but I can't really say. You should choose a color that really appeals to you. Is there a certain color that shows up often in your wardrobe? That might be something to consider.

You should certainly start out with doing just the wall and see how that looks. If you feel happy with that don't go any further. This is your home and you have to love it. Don't worry about accessorizing. Even just a few pillows and a throw can make that color look integrated. You can always visit here again and get advice after the wall is painted. I can't wait to see the result!

I'm not a fan of accent walls, because it's rare that they are actually "accenting" anything, but are you talking about painting the wall up to the ceiling or just the wall with the fireplace, up to the ledge, the way it's painted now?

All of the walls in the entire room used to be painted with the taupe color. I thought it might be interesting to paint this wall with the fireplace, up to the ledge, with a different color. I have tried 2 different shades of brown, and 2 different shades of gray. I haven't liked anything I've tried so far. I am trying to decide between trying a 5th color or just giving up and going back to having the whole thing be taupe again.

We don't see any accent colors in the room, but rusty red would be nice with your woodwork or a light gold. Then carry that accent color throughout the room.

A subdued eggplant(not purple!)and your taupe! Beautiful combination!

I love accent walls, but in this case, I'd not do it and keep it the same as the rest of the room.

I know those tall windows can be a real challenge. Someone here years ago had a set beautifully dressed. Have you thought about adding color in that way? You'd get the added benefit of adding softness and some sound cushioning. Something like this: