Calling all those Decorating Guru's!

I wanted your opinions on how I should decorate our basement. It is a nice big open room. We have our computer down there and also my sewing machine. I want it to be a fun and inviting room for kids to play in with their toys and just a nice room to hang out in. I know the pictures aren't the best, but hopefully you'll get some ideas of what I can do. Eventually I would like to turn it into a TV room but we don't have the $$ right now to get another couch and stuff, so I need to do something else with it and make it functional with very little or no money. The pictures are taken from each side of the room to give you an idea of what it looks like. (By the way, excuse the mess and the entertainment center on the back wall is not going to stay there.) Thanks in advance!