What a beautiful room! What kind of floor is this?

Pretty space that will only get better with tweaking! I agree with Jan's suggestion. The couch on the wall beside the fireplace doesn't look right--too crowded. I understand the desire for that symmetry with them facing each other, but even if you get rid of the TV, having a couch there just doesn't work. We have a similar layout in our living room--those corner fireplaces make furniture placement difficult! After eight years and trying many different layouts, we have settled on a plan similar to Jan's. RugsUSA.com has some oversized rugs, and here's one I found on Etsy after a quick search; I think the room could benefit from something vintage/antique since your other things look new: https://www.etsy.com/listing/858351833/13-x-16-contemporary-turkish-oushak-rug?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=13+x+16+rug&ref=sr_gallery-1-25&organic_search_click=1&pro=1&frs=1 

Without measurements it’s difficult to advise. Generally one ideally looks directly toward a screen but in todays broadcast, sound is equally important so where are the speakers? Our basement is multi-purpose entertainment space. Though a great room space, various functional areas are incorporated. Below is a video which may provide ideas. Hope this helps. https://youtu.be/omZvd2Vd3PA

I’d try to continue enjoying fireplace, watching TV witth two areas, but with the objective of not splitting room. I would rearrange fireplace area (new furniture if possible to suit leather and in this set up, swivel chairs aren't needed). Leave space on right open and could warm up/ground with a rug. Not sure if space allows, but should be easy to figure out. More comfy chairs than above. On TV side, try moving the recliner, again to open up the room. Thinking couch could go under window and two chairs along the back wall. Suggest large art and a coffee table to create a more cozy space.