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.

Partim had it above...... embellished below You decorate/arrange for MOST of the time....... four chairs will easiiy go around the table. Float and forget the rest. Go get a big pouf cocktail table, or a round glass top to fight all the rectangles in the room. Get an inexpensive 5 x 7 rug, or a great faux hide rug! Snug the table to the wall...... add a great big piece of art or even a mirror !It is what it is. When you can lose the loveseat? Lose it.! And you will lose a " visual wall" : ) You can angle those for conversation and walk right through. Doesn't matter...this is what you have now. And it fits. Just make it work . If it is two of you dining MOST of the time......you don't worry on the rest of the time where you might want six. This is why god invented "buffet style". Bottom line is you are both "over " and under furnished. For the moment. lol

I have a similar angled fireplace. If you're not wedded to the TV over the fireplace, I would suggest putting it next to the fireplace and angling your furniture around the TV. That's the way mine is. You can see the TV face on from some pieces of furniture, and the fireplace face on from others, but all can see the TV and fireplace. I use my fireplace daily in the winter so don't want a TV over it, it gets too hot up there. I would advice against a sectional. You can get the utility of a sectional from a couch and a lounge chair or two. I'd be more apt to angle the couch where the chairs are in your picture. A floor drawing would probably help with furniture placement. I think you could totally redo the room to match your inspiration picture, keeping the wall color unless you really want a dramatic change. I love the curtains in the inspiration photo! Your house is open concept like mine. Hard to figure out whether to repaint or not, because once you start with one room, it snowballs to how that affects the other rooms. You could always do one wall another color like the current owners have in the photo. Wish I knew what that color was in your inspiration photo. Browns and tans are the worst for me as far as choosing the right one. I burned up a lot of cash in sample paints when I moved into my new house. But it is the right time to repaint, before you move all the furniture in . . .

Like Julie Anne, I would use a round table with 4 chairs over by the sliding door. If it expands to oval shaped with 6 chairs, even better! However, I wouldn't do a second table under the chandelier. Instead I would have that chandie replaced with a flush mount fixture and add a chandelier over the dining table. Then I would put a sofa facing the fireplace. The tv can go in the nook to the right if your tv is small enough, or over the fireplace if it is larger. In either scenario I like the idea of shelves in that nook. Put a pair of chairs in front of each window. The ones to the left of the fireplace can share a round table between them. I wouldn't use bar stools, personally. They are hard to slide in and out on carpet and they will restrict your furniture placing options. Instead I would tuck a bookshelf into that spot (because I always need more book storage!) Or just ignore it entirely; when you have guests they will enjoy leaning in the counter just as much as they will enjoy sitting on stools, if not more.