Your decor is quite busy. Maybe the wall needs to be emptied of everything but the TV and painted in an accent color without boxes or wainscot. If not already done, put the ceiling cans on a dimmer and add table and floor lamps for a warm, homey feel when the lights are on.

Whatever you do should fit the overall style of your house. I'll make assumptions it's traditional based on the photo (double hung windows, crown molding, and your desire for wainscoting).

Consider a traditional built-in hearth approach, and make the full wall both architectural as well as functional. It gives the woodwork a purpose for being there, and in your case the TV takes the center position, along with great covered storage.

This photo is fairly close to your layout. Painted white it blends nicely, yet makes the full wall a feature. Design your built-in with the right level of cabinet detail to fit your overall house style.

IMO a floating media unit from Woodwaves could be a good solution for your wall. I moved your random framed items from the window wall to either side of your flatscreen

Wainscot is not often done on just one wall in a room.

You can add feature strips to one wall if you like.

You can create a built in media center with an accent color.

Chair rail on a wall with no chairs makes little sense, especially if not on all walls. why bring attention to a wall that the TV is on? the reason you dont like the room is the room layout itself.

Bring the sectional so it is centered under that window and not stuck to both walls.

Move the end table to the end of the sofa once tv is moved.

Sell the ikea paper floor lamp and get something less bulky or perhaps that can go behind the sectional.

Try getting some white or lighter frames for the artwork.

remove the black family crest as it just draws your eyes to the black speakers.

Hi woobiedmd-

No wainscoting is needed in that room on any wall. If you want to do something on the TV wall, if that is your family room, you can build cabinets on either side of the television with a unit in the middle (with storage underneath) on which you can place your television. Wall mount your television in the middle, higher than it is now, so that you are looking straight ahead at the television while you are sitting on the sofa.

In those cabinets you can put the games your family plays, store TV trays, e DVDs, etc. The cabinet underneath can house audio-video equipment. These can all be made to your specifications/measurements and if you need a glass front for the one underneath your television, that can be done as well.

The very, very large white ceramic vase is too large for the corner where it is.

Hi I love your style. I would move table next to the couch with a lamp on it. I think you have room for a chair and reading lamp where the white paper lantern is. How about a wall stencil to add a little texture? There are so many out there on Etsy. Really, the most important thing is to add the doggies name to the wall!

The key element for TV wall is to do it dark enough that the TV and speakers are visually eliminated. Lots of good options. Keep us posted on your changes.