as already suggested, paint the mantel. Its the mantel that's visually heavy and holding your eye in one spot. Either the whole mantel the color of the walls, or the bottom part of the mantelpiece the color of the walls, which will leave the mantel with an airier 'strip' of wood. Try the latter first, you can paint the rest, which is probably where you'll end up anyway. Once you reduce the heaviness of that mantel, your eye will be free-er to move about the room. You can further reduce the visual weight of the whole fireplace bumpout by painting it the same color as the other walls. This will make it 'disappear' into its surroundings.

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think & kudz: I was attempting to give the owners the maximum view and balcony access by making the middle bedroom the master, leaving the larger master (which is quite far from the bath) to contain guest, office and media room furnishings with no balcony and possibly a less exciting view. Not sure which view sees the ESB, but assume it is the balcony area since the OP is focused on that. With the bed placed on the "west" wall of the room, the view may be enjoyed from there and chairs can be added near the opening and/or on the balcony in good weather. Perhaps the smaller closet in the room could be converted to a coffee/wine bar, turning the space into a self-contained a.m.or p.m. retreat. A door on the "north" end of the "east wall" could give easy access to the office. The main issue for me is the distance anyone has to go to reach a bathroom. If the foyer closet and LC could be moved forward that bath would at least feel more spacious and the shower enclosure could be larger. I also wonder if that front foyer WIC would be better if incorporated into a larger, more luxe master bath.

Consider a grouping of four swivel chairs in front of the fireplace and a pair of upholstered benches at the two windows; game area in the corner if your bunch enjoy that kind of family time. I see a chain hanging from the ceiling which reminds me to ask about lighting. What kind of fixture lights the stairwell? If you ever want to add TV, consider enclosing the stairs with a pony wall pre-wired for TV on living side and for a pair of sconces on the stairs side. Here are some fun and comfy looking chairs. These are a bit more traditional; what's your style? One take on the pony wall idea.