I would say use the couch as your main focus, and use the colors featured in it as accents( for example, a teal vase or lamp sitting on a side table next to it). Try to stick with wood for furniture( besides other seating, which then you could use another accent color). Also tey incorporating plants, as they might help balance out the room.
<p style=”text-align: left;”>Does the entire room have wood paneling, or is it just an accent wall? I would say that you should embrace the wood, and not try to cover it. You could use a neutral color palette and mix textures(faux fur, wood, jute, etc). You don’t want things to get too chaotic, since pine paneling is hard to work with. Also, when on a budget, thrift stores are your best friend.</p>
Hope this helps!