The second option looks better in my opinion ^^ It's because the stereo is a relatively simple item so it looks a bit too simple under the painting, yet the fireplace and the sword looks a bit too busy under the low and kinda of busy shelves.
I'm going to say the second option, the items just pop out a little better, whereas the fireplace seems to blend in a little too much on the first option.
It's because the fireplace combined with the shelves feels heavier paired together compared to the painting and stereo on the other side. Switching the painting over to above the stereo made the 2 sides feel more equal in weight.
ooh, that room looks lovely! both options are great, but i personally like the fireplace being on the left side more. it looks lovely being under the paintings on the wall, and the stereo does look better on the right side, too, imo! : )
I like the bottom one, it also makes more sense to have shelves over a stereo than a fireplace, since it gets really hot and kinda annoying to stretch over a fireplace to get stuff.