There are many unknowns here, but here is what I would do: Invest in appliances that I know I'll want in the upcoming remodel. Buy a simple sink cabinet base to house the sink. Treat the rest of the kitchen space and storage needs as an unfitted kitchen. Perhaps check Craigslist for hutches, narrow tables and other furniture that could serve as storage, and functional workstations in your space. You won't be investing a great deal, and can repurpose or sell these pieces in the future. Open shelving instead of uppers. (More economical.) I would treat the area by the radiator as a landing zone or mini-mudroom, assuming the door to the outside is used and may need a place for sitting, hanging coats, etc. A large bench would work well. Here are some links to unfitted kitchen ideas: http://www.kitcheninstallation.org/tag/unfitted-kitchen-furniture https://www.pinterest.com/lindseyinal/unfitted-kitchen-ideas/

I definitely appreciate everybody's input and advice, so, thought I'd come back and give you all a little update. There are some issues with changing the layout, specifically moving the range to the interior wall. The venting is going to be problematic, because of location of the garage doors and also some HVAC equipment in the path. Would involve a rather long, inefficient run with multiple turns to avoid these things. HVAC guy basically said, Please don't move it there. Not only that, but the small wall that Karenseb suggested to remove - is part of a larger load-bearing wall. I have a healthy mid-range kitchen budget but these changes could be a real budget buster. Especially as we don't know what other surprises are lurking once demo begins. With that in mind, and my husband's wish to have the range and hood as a focal point centered between the windows, aesthetically nicer than staring at a fridge from the island seating, as well as simpler ventilation, any other suggestions? Should we keep dishwasher to the right as it is now? I plan to move the sink further down the run, ending at the right end of window instead of centered, to increase counter space on right side of range. For the few times a year I would cook a large spread of food for entertaining, I do have a butcher block island on wheels that can be rolled over to serve as surplus counter. Plus the big island directly behind. Other changes - we are leaning towards forgetting the separate oven and going with the aga range (plus my trusty Breville smart oven). I think then we would just make the beverage center section all countertop, space for Breville, and center the bar sink on that run. I asked my kitchen designer to draw up an L shaped window seat, into the alcove, maybe shelves or small upper above. As we can have lots of pantry space, with affordable shelving instead of cabinets, in the current hallway/future walk through pantry.

I wouldn't keep the color scheme, but I think I'd put the TV on the orange wall. The yellow wall would be better in a vacuum, with its high window, but the advantage of the orange is that you could probably arrange it so you can watch from the kitchen too, if so desired. I'd get a long console for underneath it, whether you intend to hang or stand it -- at least 50% bigger than the TV itself. (Not much clue to style here, so not sure what to recommend...) Then you can assemble your furniture to gather around the fireplace and TV -- large couch with back to kitchen, with arm chairs on either side facing in. End tables with lamps, a coffee table, etc.

Congratulations on the new house! In terms of what to put in this space, I do like the dark couches and how they contrast with your light walls and carpet. You do need some color, though. Some wall art that's high up enough where the kids can't play with it would help. Oranges and reds would brighten the room a bit and bring some visual interest. A coffee table to unify the couches a bit more could also help warm the space. I'm always a huge fan of natural woods with a smooth finish, like you can see here. You could probably get some bumpers for the corners of the coffee table so the kids didn't poke themselves by accident.