IMO the 1 st thing you need is a proper TV cabinet that gets the TV at a level where the center of the screen is at eye level when you are seated. I rarely like orange and black together . get some actual art on the walls , choose your colors from the art . get rid of all the little things that hold other little things like the book shelves for instance. Family photos are IMO best displayed in more private areas and even if you want yours they need to be much bigger. IMO pput the TV on the wall where the loveseat is there is no point in arranging furniture where no one can see the screen at an angle. Check out Besta from Ikea for the TV wall youcan get storage , TV and some small amount of display for special items Drapes need to appear able to close even if you never close them. I also like the same drapes on all the windows in a space.

I don't think moving the TV (husband's preference) or fireplace (gas line) is an option. Also per hubbie, can't paint the fireplace. Would it work better if the couch was moved in front of the fireplace and move the two chairs to the side where the couch is?

Those large dark sofas are sucking all the light from the room. I would not do an accent wall and not choose gray paint either. Look for a larger rug than in your mock up. A rug with a small amount of black. Skip the orange chairs, they are too close to the floor color. No bookcases beside FP. Hang the curtain rods wider than the windows and have the panels on both sides. Your windows are too far from FP for that 1-sided look. Clear off the mantle. Choose chair color and paint from the rug. You've chosen too many pillows. After all that is done decide what you want on the walls.

Rugs on sale at horchow.com

As for me it looks as kaleidoscope ..to many bright different colors in room. I would go with more elegant neutral colors.