One of the common areas to place the pieces is underneath the coffee table and in front of the couch. If you do use this scenario all four table legs should fit on the rug and not on the ends. It should have enough length that there will be room on all four ends. It looks very tacky to have table legs placed at the end of all four corners.
Similarly the right ottoman can be used as a foot rest storage unit and coffee table. Decorating your living room space should be a fun experience.
Less is more. The most important rule to remember when decorating any room is don't clutter. Less really is more. Choose simple pieces and keep the extras to a minimal. What decorations you do use don't over do it but rather select a few quality items.