I'd use at least part of the space to build storage like a pull out pantry and set it on long drawer slides. Or a couple of them stacked. Between my toilet and my vanity cabinets I built a dividing cabinet. The dividing cabinet carcass is about 48" tall, maybe 12" wide, and about 30" deep. That cabinet carcass holds a small pullout drawer up top and a larger pull out "pantry" in the lower portion. The lower pullout pantry is on 28" slides and it's divided in two with a vertical partition, and on each side of the vertical partition I have a few shelves. When the pantry is pulled out one half faces the sink vanity and the other half faces the toilet. The part that faces the sink is used by my wife almost like a medicine cabinet. The shelves are only about 4" deep, so it suits that purpose just fine. The shelves that face the toilet are deeper, about 5", deep enough to hold rolls of toilet paper, paper towels, cleaning supplies, etc. Since you have a 45-degree wall to the left that would hinder access, I'd just make a unit that opens to the right. You could get 10" deep shelves for decent storage. I'd say to rip and replace the walls, but I see the shower valve is on that wall and you already have a niche in the shower on the other wall. Regardless, be careful with the plumbing since it's a wet wall. The room on the left is laundry? Can you access any of the space from the laundry room for wall storage on the upper parts of the wall? Use the lower part of the cavern for a pullout pantry accessible from the bathroom, use the upper part as in-between stud storage accessible from the laundry room.

That far wall is just painted an ugly copper like color, i prefer to drywall it up, there are no doors on that wall, it doesnt go to anywhere. The front door is that wood door where the boxes are in the picture. That is a swimming pool outside of those patio doors, that area is where the dining room will be though. Those sliding glass doors will be french door sliding doors soon. I would like to make the space a more formal living area, I do like the idea of a bar and then 4 chairs with a cocktail table in the middle, should I also maybe included a rug in the space? The problem that I'm having is how to actually layout the formal space, meaning where do I place everything in the room so that it looks clean, modern, and not out of place. The new front door will be white with glass, when that is installed the door that will open will be further away from the copper looking wall and the doors open outward not into the house, so maybe I should put some type of long modern buffet type piece against that copper looking wall?

Without any other pictures, I would say no gallery wall there. The wall doesn't have anything centering it but it's also not completely empty so whatever you put there will just look off center.

here's a slim cabinet from all modern. could be used to store extra glasses, candlesticks, etc. or booze. do searches for "shoe storage cabinet". they're really slim, designed for narrow hallways. if you didn't want to use it for shoes, it could maybe be used for linens or something. (these two shown below are from ikea.)