Agree with gracie01. Move TV to console on left of FP. Make sure the console is at least 2/3 the width of the space from the corner to the FP and center it in that space. Hard to tell but I think I would go with a much larger rug so the recliners are on it or pull the recliners in so the walkway is behind them

I think the contrast between the classic FP surround and the contemporary shelves on the right is more of an issue. I'm not a fan of big box store decor, so the items you are decorating with aren't to my taste, but what probably makes it "off" to you is the fact that the coffee table isn't lined up with the firebox opening and the sofa is partially in front of the opening. You might sense better balance if you flank the FP with the two chairs and place the sofa where you have the floor mirror, centering it and the coffee table with the firebox. If you remove the shelves, you could try the floor mirror on that wall instead. You don't have much walk space around the sofa right now. The chairs might do well on that side, leaving the step down entrance clear. I'd rather leave the space in front of the step clear of furniture.

What is in the blue cabinet? Is it removeable or are you willing to paint it?

I had a client change there mind and wanted a vaulted ceiling in their living room. The problem was the master bedroom was above the living room and the second floor joists were being installed that very moment. They stopped construction and I offered the idea of raising the living room ceiling two feet to eleven feet and providing an extra set of steps in the second floor hallway leading to the master bedroom space. The change was made and everyone's happy. It is sometimes worth it to make late changes in construction to make the design better.