it's easier if I show you pictures that match your room. Then you can see what you like.
So the roman plaster. you would just do the fireplace. Not sure if I would take it all the way up. I might just do the lower half and the upper half w/some type of wood trim work or molding.
here's the plaster.
You can see how this would look a little plain if you took it all the way up.
Now this one, this one is cool. The surrounding furniture/lighting/decor really makes the room.
one that looks like concrete. I do like the benches under the windows. notice how they did a vertical wood plank on the entire wall. I really like this
Above the plaster portion, you could do something like this
I really like this one too. a white plaster surround with same color on the walls. (you can paint the plaster to match the wall color). above this is a simple wood trim picture frame look painted a soft black (I have paint colors if you like this look). Notice how all of the furniture blends beautifully w/this look
Trying to find a taller fireplace. this is a DIY skim coat concrete overlay. (you could also do a smooth stucco or the roman plaster)
same idea w/this one. diff style of wood trim on the upper portion
here's more of a shiplap design. this lower half looks like a stone surround. (basalt would be cool here) but imagine this being the plaster or cement overlay
Here's the Roman Plaster done in a darker color. you could go all the way up
or even this. (love this room decor)
don't forget to bring in chandelier. w/your two story ceiling, you really need something.
even coffered ceilings painted a diff color would be cool
I like this room style too. this is a rock veneer, but you could do anything else
this room set up is similar to yours. Trim molding on the upper half of fireplace.
lower part is a stone mosaic and wood beam mantle
you could also do some type of stone surround. have it cut to fit. This would be pretty inexpensive compared to tiling all the way up. Looks like they did a shiplap above this (or it could be a brick. hard to see)
I love the black windows (consider trimming out yours and painting it black) The black surround and the white oak beam mantle.
another one I really like. consider drywall up above like this, and doing a Zellige tile for the surround. white oak mantle.
This isn't that expensive if you DIY most of it.
Studio McGee. I love this one too. nothing fancy. simple surround w/a mantle surround.
Hope this gives you some ideas!
Q