Make a little escape/play area

I would paint it all out a clean fresh white.

Apply a tree branch silouette wall paper on the outside wall

if you are artistic, draw some branches, leaves and a bird

and even a white fabric or painters tarp to act as a tent.

I suppose it's where people would store their chests. Back in the day for everything. Placeware, linens, memorablia, travel trunks, etc.

With no window or door it's not a room... so continue as a play area. Not quiet enough for meditation.

Bouldering wall.

I would not paint the walls. Keep them as is. Add some floor pillows, soothing music, and lots of colorful Sharpies. Turn it into a meditation room or a space to think and jot down creative ideas on the walls.

@George S what do you need in your home? Storage space? Yoga space? Playroom? Kid camp-in place? What don't you have enough of in the rest of the house?

Also, what are the environmental conditions there? Is the space heated, cooled, ventilated? Looks like there's a little heater in there? Can an adult stand up in the middle? Can a rowing machine for lengthwise? What are the key dimensions?

Personally, I'd love to have storage space, because I have none…no basement, no article, and dinky closets. But you may already have more than you need. I have grown kids, and even my grandkids wouldn't be interested anymore. I would love exercise space but only if it's air-conditioned and ventilated. 

For storage, you could put big things along the low walls or you could install shelving there and still have a little stool to sit on in the middle while you sort or search.

I'm guessing this is a house new to you, and the previous occupants had kids? Or is this your kids' artwork?

Thank you all very much for ideas. They are fantastic!

The space is not well ventilated. Yes, it can be heated in winter. The room is 2.5m x 2.5m and is 1.5m at its highest (so most adults will need to stoop).

Given lack of ventilation and size, may be difficult for an excessive room.

Has anyone come across pictures of what people have done with similar spaces?

Go with the kids only space…. Music, tv or quiet….

These are pretty small. There's the gable idea, but even that won't help if your ceiling is only 1.5 m high at the peak.

If you don't need the storage or space, what is underneath it? Maybe opening up the floor to the space below would augment the home better that trying to figure out how to use this space when it is hard for me to tell what your needs are.

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Where we live it is illegal to make a room into a bedroom unless it has windows...CA.

No knowing what your budget is, it's a small space that has height challenges. I would treat it like the space under a set of stairs and build custom storage. Design the storage for something you enjoy or something pratical that services that area of your home. Good luck!

I think it depends on what you need space for. If you have kids, a playroom would be a great option. If you have only adults, you’re not going to want to walk in that space. You could try a desk with surrounding cabinet storage, so the space is usable seated, where the headspace won’t matter. One of those tubes to the roof could bring in natural light. If your budget allows, you may have space below the floor or above the ceiling that could be reclaimed to create a taller space. Or you could pile in floor cushions and get a roll down screen and projector to make a chill hang out movie viewing space. If you had a low fold down table you could also play board games there.

No natural light and not well ventilated = storage space.

@George S what do you think of getting rid of the space in exchange for a cathedral ceiling in the space below?