I think I would swap the smaller sofa and put it n the tv room and put the larger one centered, floating in front of the fireplace. I'm not usually a fan, but since your window is off center, I'd try putting the small sofa at and angle, right of the window and face it to a tv in the opposite corner. For the bay window in the formal space, I think it would be a great spot to put your barrel chairs with a 36" round table height side table. What a wonderful place to have morning coffee, read a magazine, play a game of chess, etc or even maybe do a small puzzle. Like this arrangement, but a small round, game size type table.

I should also mention that on the corner of the L is our entryway (which we have plans to improve in the future but not for a year or two)

I think these are my favorite! i never would have pushed the furniture over that far towards the stairs. But I like it. what would you put in the back "nook" and then now at the bottom right of the layout (which leads into the dining room)? anything? Kids toy organization will go somewhere for the next few years :)

What about something like this to get you started. The sofa has a sofa table behind it. The console is on the wall and a TV would be on it or above it. The 2 chairs would be between the two rooms, but mainly in the other room. The windows have been replaced with your french door.