When you live in a small space or have a more open plan home, you have to get creative with storage. There is a lot of ugly storage out there.
And there is nothing fabulous about that.
Let's take a look at this alternative storage example:
On the outside it's your basic trunk serving as a coffee table.
However, our Clark Kent's "Superman" on the inside is actually office storage:
Everything is all Tetris-ed in starting on the left with long, blank folders, followed by archived files, paper, blank file supplies, blank binders, and various other supplies. Then underneath the notepads on the right is a box filled with smaller office supplies. Everyone is tucked in just so and there are no ugly storage containers anywhere near this living room/office area.
Something like this can also be used in the living room to hold - guest sheets for a pullout sofa, blankets for sudden chill, children's toys or work-out gear. It can be placed at the end of a bed to hold out of season bedding. You could also use it in a guest room as a kit for anything a guest may need - bedding, towels, robe, toiletries and such. Storage ottomans are great for this type of storage as well.
When in need of extra storage, venture past the standard storage ideas and start thinking creatively about what can function well for you while also looking good. I think you'll be much happier with your end result.