For now, forget about the pendant. Focus on the TV and art. The TV is a massive black box no matter where you put it with a tangle of wires that is unsightly. It's interesting that even in a small room, people hardly ever consider getting a smaller TV to suit the size of a room. They'd rather change structural features, buy expensive furnishings--anything but get a smaller TV. For now, move the gray print chair under the TV but pulled forward a bit. Relocate the ottoman. If the front door opens, someone sitting in that chair will get a door in the face! Makes no sense to be located where it is. You should've shown all four sides of the room to begin with. If you're putting that painting on on the mantel, hang it vertically as you had it on the opposite wall. It's too wide for the mantel and looks better vertical. Take off all the clutter on the mantel. The art should stand entirely alone. Scroll back through 23 comments and reconsider Beverly's recommendations--console under the TV on the right and lose all the wires, floating shelf on the left for your photos. She did a mock-up for you. In any case, while you decide about the TV, move the chair over to see how it looks. Or, if you prefer other advice like putting TV over fireplace, do that. Then deal and look at the many examples of how to balance the sides of the fireplace.

Picture of living room currently

That looks so much better. To 'finesse' this new look, I would add a generous sized area rug with rich accent colors to use in couch pillows and other accents. If you decide to repaint the walls, you can use the accent rug as color inspiration for that as well. I also think an accent chair angled from the corner near the nook with that has the large potted plant would balance out the two sofas. I would choose a large square coffee table in a dark wood that would echo the feel of the sofa table. I have used the following sources to purchase affordable area rugs, pictures, etc: At Home (used to be Garden Ridge Pottery), Hobby Lobby, Kirklands, Joss and Main, Overstock, Wayfair, and Birch Lane. Some people have a lot of luck with Craigslist or Facebook Marketplace. Your home is lovely, and you are making it lovelier. Good luck!

It seems like you need the seating space. Are you able to put the leather sofa in another room? I think a leather sectional would be perfect for your family.