Here are my suggestions :)

It depends on the budget you put it.

Your master bedroom is big enough to be designed separately for 2 different areas, the bedding the sitting area.

In my opinion, white furniture doesn’t fit in master bedroom but would be better in kids’ or guest room. The comparatively darker color solid wood furniture (for example, brown, dark brown or red brown) will make the room more traditional and balanced. But if you like contemporary style, you have more color choices (such as grey or black, which is cool). If your budget allows, you should buy a whole new set of master bedroom furniture.

Then for the resting area/TV area, I don’t think you have to use just one piece as TV stand. You can get a TV stand separately or just use the armoire which’s included in the bedroom furniture set. The seating should be comfortable and cozy AND not neccessarily for watching TV. Most designs are for reading or just relaxing. BTW,I personally don’t recommend bringing color floral paten sofa or love set to the bedroom.

You also desperately need to work on the window treatment, which should match the bedding or the seating.

You need new lighting (ceiling light and floor lamp for seating area, bed lamps etc). It's not just for light, but more for looks/decorations.

On the wall, definitely no calendar, or similar cheap stuff. You need paintings and some art decorations (some even have candle holders build in :)). Some Chinese like to put Chinese Zi Hua in the bedroom. I would say no because they are better for the home office or sitting room. Normally this part should be thought through by the wife.

Another major thing you may need to consider is change the color of all the walls. But it’s really hard to say because some people like mutual light wall colors (such as me :)). However, light color normally doesn’t create romantic touch like creamy thick colors. This you definitely need to discuss between you and your spouse. The wall color may totally change the style of the furniture and sometimes affect people’s mood. If he or she hates the color and become a big turnoff, hehe, the other ain't goona get any hahaha

First thing first, before you make any changes, spend plenty of time in furniture and home decoration stores and search on line for bedroom decoration. You’ll be amazed at the different decorations and inspired to come up with your own good ideas.