Check out this cozy space created by She finds low shelves to be less overwhelming than tall ones and uses the space above for a gallery frames. The surface top also allows plants and other sculptural pieces to be easily accessed.
For even more storage, consider hanging shelves up high that run the length of the room. You won't loose any floor real estate at all, and you'll gain a lot of storage space. Design Dozen: 12 Clever Space-Saving Solutions for Small Bedrooms