This is a perfect combo of my two favorite ideas for that space under the stairs leading to the basement. A reading nook AND book storage and shelves . assuming that there is enough space for this there.
ML Interior Design: Elegant foyer with silver gray damask wallpaper paired with wainscoted staircase wall and glossy black staircase banister with white spindles. Gray tufted camelback French settee with matching bolster pillows and caster legs.