We don't like to hang things above our bed - growing up in earthquake country has made us a little paranoid about the big one. So when we switched to a bed without a headboard we were a little stumped about how to add some visual interest to that side of the room. Enter our favorite decorating material: paint.
We simply taped off an area of wall the width of the bed and painted it one shade darker than the walls using a semi gloss (the walls are eggshell.) It's subtle, but effective, and actually makes our ceilings feel taller too.