We've used a similar corner shelving unit to create space in a small 7 by 9 ft room. It's a great, easy shelving solution for small spaces (although installing it was a bit tricky as the walls weren't plumb.
I finally finished the kids reading nook area in our homeschooling classroom. I made a cushion pad and pillows. Also added the word " read". They are cardboard letters I picked up at Joanne's off. Spray painted with metallic paint.