I love little nooks like this! Why not get in touch with your local timber merchant and source some reclaimed wood to hang as shelves, one above the other. Find some eclectic accessories to dress the shelves and add character to your room. To fill the floor space why not put a dresser for your bits and bobs, socks, ties, jumpers, etc. That might help to free up storage space in the rest of your room. Some gunmetal coloured pendant lighting dropped from the ceiling will look really stylish if possible, otherwise your current spotlight will work just as well. You can then transfer the style to the rest of your room, I think it will suit your bedding and light wood floor really nicely. http://houzz.com/photos/192218 Good luck!

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A photo would be great, thanks. My imagination is failing me! The chest of drawers is fine but I really just put it there instead of getting rid of it when we changed our main bedroom furniture. Was surprised to find it fitted perfectly! I don't think we could attach it to the wall where it is because it's just a paper thin partition to a wardrobe in the other room. It's pretty big for the room if we move it out the alcove.

wine cellar.... surely!?