Whenever we stay in London for longer than a week, we're usually put up in some kind of corporate housing environment. It's part hotel in the sense that it never really feels like "home" and more like a crashing pad after stumbling back from work or pubs...and part studio apartment, as evidenced by an inevitable pile of dirty laundry in the corner and shoes flung near the entry. We found these photos on Tero Heino's Flickr that looks almost exactly what our corporate housing has resembled in the past; and upon further inspection, there are some pretty interesting decor and small space solution ideas there...
First off, the window coverings: Instead of using traditional drapes or mini blinds, you could use fabric panels (like Ikea's panel curtains) and layer them with the sheerest panel in the middle to let in light. It gives the room a sense of height with the ceiling-to-floor length, and is a great opportunity to play with mixing patterns and solids.
We've also never really considered putting a loveseat at the end of the bed, but it sort of makes sense in this space. If you're squeamish about your guests lounging on your bed, this is pretty good option. (True story: A friend in college once got body lice after hosting a holiday party at his house--he used his bed as the place for the coats.) The only issue we could foresee is if you watch TV in bed, make sure the sofa back isn't so high that it obscures the view.
Another idea: Floor length mirrors are attached to the wardrobe storage on either side of the bed, thereby saving some precious wall space. It can also go on the other side of the wardrobe doors if you'd rather hide them.
Here's a view of the kitchen and dining area:
Having lived in a small studio like this before for a few weeks at a time, we can vouch for the small size refrigerator (even if it's lingering by the front door). We found ourselves not really needing the extra space of a full size refrigerator (mainly drinks and leftovers). In this studio, it almost looks as if the refrigerator can double as a landing strip...
[ Photos from Tero Heino's Flickr ]