We currently have a similar challenge in our new home--no dining room table. We have an open bar in the kitchen which provides seating for two people but we can foresee problems when we want to entertain.
We absolutely love Sara's solution for having guests over for dinner--a card table pulled up to the couch. Because it's the fold-up type, it can be tucked away elsewhere when not in use and brought out when needed. Two red chairs add color and a lovely table cloth brings a festive touch to the space. Sara's "dining room" is cozy and warm and can be transformed back to a living room with ease.
(Image: The Happy Janssens)