It's a fabulous stove. It has a real classic quality. Give it a nice freshening with some high heat stove paint in a nice matt black. Paint over the brass hardware to make it less harsh.

1) Paint the fire brick and the door the same color. I know it sounds irreverent but painted brick can be the most beautiful thing. Fire brick is really awful and never looks great when left unpainted. Dry-brush a neutral wall color over the brick in layers with a wide brush, and build it up until you like it. Coordinate it with your wall color. You can change it whenever you change the room color so it will always coordinate :)

2) retile the slab with 12x12 home depot slate. It's gorgeous and only $3.00 per qu foot.

3) tile the floor of the nook to the right in the same slate so you can use it for wood storage. A nice stack of uniform logs will make that whole area a real focal point.

Good luck and post "after" pics!!!

I doubt that you can paint it - kinda dangerous on a hot stove! - but I bet you can really change the look by changing the background behind it and underneath it.

I agree with everything medusa says -- I know you said you want to leave the brick and slate as is, but I think those suggestions are your best bet. I think medusa's ideas will make that a gorgeous centerpiece instead of an afterthought-eyesore. Plus woodburning stoves make a room so toasty and cozy -- you'll love it come winter.

Visually, you have a lot of different elements in a rather small area. I would try to create a more cohesive, visually complementing scheme so that you don't have brick, drywall, trim, carpet, and stone all competing against one another.
And a new paint job on the stove - one that works with your new scheme - would be good. Just ensure the paint is very dry before lighting a fire.

Personally, I would try living with for one complete winter.
If you don't like it - and the heat it provides - then spend the extra money to install a proper heating system - or have it tied into the one that heats the rest of the house.
If you do like it, then spend the money to decorate. Plus by that time, you will know what you want/need.
Good luck!

I also think the problem is with the brick, not the stove. With the brick and the stove you've effectively got two focal points, and one of them has to go. I think it's the brick,which TBH is not the nicest brick in the world. And I actually like the stove. Personally I would paint the brick white to show up the black stove.

There is high heat paint for fireplaces, so it definitely can be painted. I think it looks fine - classic, like medusa said.

I think you should just "think cozy" when you're decorating. Nothing too stiff or stuffy. The room should look lived in and the stove should look functional, not disguised.

I have a wood burning stove that has a set up almost identical as yours.

I used news papers and taped off the ceiling and used a drop cloth for the walls and floor. I used high heat matte black paint to paint the fire place (Keep the windows open) then we also painted the brick on the back as an accent. I get compliments anytime anyone new comes over.
I just used reg paint for the brick, It doesn't get hot enough to get damaged by the fireplace.

You should paint the brick. Make sure you choose paint that can withstand heat as well, or it will peel. You can paint the stove or use a product specifically to blacken stoves. Lose the brass.
Use the stove for a winter to see if it satisfies you. It looks to me like an older stove that is probably not that efficient. Make sure the gaskets are in good shape or replace them.
If you don't like it's performance consider replacing the stove with a newer epa certified stove. We have this (which we got used for under $1000) http://www.jotul.com/en-us/wwwjotulus/Main-menu/Products/Wood/Wood-stoves/Jotul-F-3-CB/
It is similar in size to your current stove, is EPA certified & easily heats our 900 sf house.
Also check out the Shaker stove by Antonio Citterio or a super modern Rais or Wittus.

I'd take inspiration from Scandinavian decor, where woodstoves are common and no attempt is made to disguise them. Often you'll see a woodstove at the center of a room that's done in very pale tones throughout. Lots of natural wood and textures cozy up the light color scheme. You won't get there unless you paint the brick. I'd go with a barely-off white. If budget allows, switch flooring to a pale wood. Wide-plank pine would be very cool and not too pricey. Keep everything pale except the stove (which, I agree, should be painted matte black, hardware and all). Good luck!

You can always buy a new stove. Old cast iron airtights can usually be found cheap. Unlike some of the other commenters I don't particularly like the stove.

Is there a way to remove any of the brass details? Unless you're going for a traditional look, the brass and eagle motifs are going to throw it off. I also agree with Medusa's comments--wider hearth, paint the brick.

As much as it is an eyesore, that thing is a wonder during cold winter days and nights. I had a home (that we sold) with a wood stove, and I've missed that thing for 5 years. Our subsequent fireplaces (there have been many in that time) have not matched its efficiency. I have never been able to find a home with another wood stove, and the next home I purchase will have one for sure.

If anything, I would remove the brass or see if you could paint it with heat resistance black spray to minimize the glaring metal. I think you have a winner there.

Painting those bricks (or any part of the stove for that matter) is a bad idea...
...the brick is there to act as a fireproof surface that absorbs heat from the stove and radiates that heat when the fire dies down - so the brick can get pretty hot.

You paint that brick and you're applying a flammable substance which can peel, flake or possibly even catch flame.

If the OP really doesn't like it - then it's time to replace the stove, brick wall and all. Installing a Mini-Split heat-pump system to replace the in-wall AC unit would probably be the simplest and most economical.

Check out Krylon--they have a whole line of high heat spray paint. You could paint it a nice fresh color.

Two, tall-ish, black bookcases to fill in the spaces on both sides of the chimney (preferably solid backed and not see-through), paint the walls a dark grey, and add the requisite baskets of wood and fireplace tools on either side of the stove. It's also a good idea to have an inexpensive throw rug in front of the fireplace so that wayward sparks don't burn holes in your carpet. Throw a plant in somewhere for good measure. :-)

Two things:
1) High heat paint is as easy as pie. I touch up my wood stoves every season. I scuff them, wipe them and spray them so they look fresh for the season.

2)Brick can absolutely be painted behind a wood stove FYI. You can do it with regular house paint. It will in no way effect the efficacy of the heat deflection into the room.

Just an FYI

I'm loving suavehouse113's ideas. Here's a play off that one. A large black bookshelf on the right. A black table on the left to catch stuff as you come in the house. I would take heat resistant paint and paint the red slate something more neutral.

I also agree about changing out the brass colors.

listen to Medusa

I grew up with one of those! Eventually, it became the room used as a library. We had wood laminate for the floor, comfy burgundy sofas, mahogany bookshelves, and a tapestry curtain. And a thick oriental on the floor--the perfect place to sprawl in front of a crackling fire.

My point is, I don't think the surroundings match the stove. The stove, brick, and slate are very earthy and faux colonial, whereas the stark white door, gray walls, and flat carpet are modern. In my house, we emphasized the faux colonial bit with crewel curtains, rugs, and the like. If you wanted to go modern I would lighten everything up by painting the brick.

Not wanting to change the brick, the slate *or* the carpet does leave one with very few options!

It looks like they boil down to a mini and a maxi:

MINI: a coat of matte black paint to cover the offensive brass, as others have mentioned (have used high heat paint myself for a fireplace without issue).

MAXI: a complete change of stove. I would live with it for at least one winter, though. You might surprise yourselves! They are surprisingly easy to come to love..

Don't get rid of it! My aunt had a wood burning stove in the dog run of her 1902 farmhouse, and I have great memories of the whole family sitting around it in winter talking for hours. She also would set dishes of food on top of it to keep them warm while finishing up the rest of dinner.

Paint the brick behind it. I think the blog Young House Love has some tips for painting brick as they have painted brick fireplaces and walls in their home. Hard to suggest a color though without seeing the rest of the room or your style.

If possible, I'd change the tiles under the stove. Something earthy and natural would look nice. Just make sure they are ok with the heat from the stove. And if you can afford it, I'd install wood floors throughout the room. It will update the room, but still look great with the old stove.

Go with Medusa. For realsies.

The stove is actually not bad. It's just that it sticks out due to its modern surroundings. You'll need to either replace the stove with something more modern with a smaller footprint, or try to match the room to the stove. I think the first option would be the easier one.

If you are set on keeping the brick and the slate, I would look at a new and more efficient wood stove. There are a lot of interesting designs not to mention different fuels that are cleaner as well.

Living in an area where many use wood stoves, I personally find that particular one unattractive unless you open the pages of country/rural decor catalogs then it works. Not knowing your personal style makes it difficult but I think a new stove is in order assuming you will be using it a lot as the editor mentioned.