If you need extra storage for the kitchen or glassware, put in cabinets, either the same as your kitchen or with glass fronts. Otherwise, leave the wall bare for a nice piece of art, and place glasses or barware on a tray on the countertop. To me, open shelving is just a dust collector.

we are also considering whether to have base cabinet or just leave it and put a buffet table

I think I would do anice buffet for a bit of storage and hang a great piece of art above it and as mentioned a trya for some bar items.

Agree with others above.

The current kitchen layout looks fine as is.

In regards to the space next to,

Depends on the user & needed future, function of the space.

What function would add to the space for your use?

Do you need more storage?

If so, base cabinets below will be an added bonus.

If you entertain, could be used as a buffet.

Then above:

Open shelving possible. Keep in mind, it will need to be dusted regularly.

Glass cabinets with glass shelving & lighting on a dimmer are nice, if want to display items inside.

Frosted glass if want ambience lighting without displaying items within.

Regular cabinets an option as well.

A non-permanent option is furniture to change as life changes.

I'd keep the base units. You can always use the extra storage. It's a fairly long wall, and a buffet wouldn't add as much. It also gives you more countertop area, because your kitchen doesn't have much. It will add to the value of your home.

Okay base cabinet remains. We will leave the wall open and just go with some art piece for now.

If we really feel that we need wall cabinet we will add them later. I doubt we will need them and having no wall cabinet will give a more open feeling to the space.