My wife and I live in a single room with her parents, because we have no money. It's not that bad, but I can't ever seem to be satisfied with the arrangement of furniture and crap.
It currently looks like this:

That image was done in Google Sketch Up, which is a 3d modeling program that is free and awesome. It is EXACTLY to scale. (Except for details. Those are approximated.)
I'm hoping the talented members of Gaming World can stretch their
homosexual interior design muscles and figure out an arrangement of furniture for this particular room that actually works. We may need to figure out how to cram a crib in there in the near future, so keep that in mind.
Sketch Up can be found here:
http://sketchup.google.com/The SKP file containing our room and everything in in can be found here:
http://www.gamingw.net/pubaccess/23029/bedroomsketchup.zipFeel free to remove any piece of furniture which you feel can go. You can also add pieces of furniture that we don't own yet that you believe would work nicely in that room.
Go crazy. Nothing is off limits here (Except for porn and stuff. Stay in school.) Post images of your design in this thread, or just post a link containing the modified SKP file.
Sketch Up is so easy to use, that anyone's grandma can learn it in less than 5 minutes, so don't think that you aren't a 3d artist. If you can use a mouse, then Sketch Up is probably going to be second nature to you.