Another option is to expand upon your living room. You could easily add another twenty or so feet and not spend over $10,000 if you do it yourself, or you can hire somebody and get a couple foot expansion for a couple thousand. While this isn't an option to some, if what's behind the interior wall can loose some space without inconvenience, and it's a non-load-bearing wall (in oppose to a load-bearing wall, which almost every exterior wall is) you can take it down and construct a new one a few feet back, most likely in under a thousand.
There isn't much you can do with the amount of space you have without getting rid of some furniture.
* Could you move the fraternity composite farther down the wall? Then, you could install a wall mount and hang the TV up there. Getting rid of the table would save some floor space. You could install a shelf underneath it if you need a place for boxes / remotes.
* Whatever that box thing is (an ottoman?) in front of the couches, get rid of it, or store it in a coat closet when not in use.
* Do people run into that side table (with the lamp on it) a lot? If so, I agree that you should replace it with a floor lamp, or hang some sconces around the room for better lighting without taking up as much floor space.
The basic problem is that there is too much bulky furniture.
Given that this is a faternity, you have done the best you can.
Look for some floor lamps. That overhead lighting is horrible.
the furniture is too big for the room. watch this series called bbc design rules to learn what to do.
https://www.google.com/search?q=youtube+...
Seems to be about 7 feet wide and there is an awkward wall (behind the black couch). We have tried many different lay outs and all are very uncomfortable. (Picture is taken from the front door)
