Love this living room! So light and airy. The green bistro chairs make me drool! I think I would do the sofa in a pastel or light neutral color since white can be too difficult to keep clean and bright in a lived in room.
Use scale to make inexpensive shelves seem high end. If your room can handle a full wall of shelving, use L brackets from your local hardware store as supports for wood planks. Paint the L brackets the same color as the wall to give the shelves a floating effect.