Kick It into Gear Party- Updating the Guest Room

I'm joining Linda. I'm scared.  It's not like I don't have a handful of other projects going on, but I desperately need to get my guest room organized and beautified.  I've been talking about it way too long and it just makes me sad when I walk by...so here it goes.  On a plan to kick it into gear and get 'er done.

The room is teeny tiny, like 10x10, but the closet juts into the room killing some precious space.

I want to do a wood/trim treatment on the walls.  Not sure yet what.
I want to paint over the blue ceiling and go all out plum purple and yellow in this room...but then I really like purple and navy too.  Decisions.  Decisions.

The dresser drawers on the bed are from an unmatched dresser that has since been moved out of the room desperate for a new place in the home.  The dresser on the back wall matches a vanity table and headboard that I have.  I just need to decide on paint colors and quick.  I am also toying with the idea of getting a trundle bed, but the funds just may not support this.

 This piece of trim has been flapping in the breeze for about I don't know 3, 5 years now.  

I finally dragged the compressor into the room.  Like it was so heavy!  

My closet is a home for lost items.  Luckily there is not a lot in there, but I do want to eventually take the wire shelves out, install full width wood shelves and maybe take the door off.  Maybe.  I want to store blankets, linens, etc neatly folded in here.  We'll see.

Can I do it?  I need help.  What do you envision?