Update/Improve Old Tiled Corner in Livingroom (images included)

I need ideas, tips or advice on how to spruce up this corner in our livingroom. If you look at the pictures, we now have a little stove in place of what used to
be the old open fire, which used the same red/brown tile you see we still have in the corner. We rent - longterm - the landlord is absolutely fine with any improvements we make and has also gave us the go ahead to remove this altogether if we wish but we didn't want to undertake that big of a job, plus we only just re-carpeted the room before he told us we could do away with it. Is painting that old tile an option? I was worried it might look cheap or tacky if I did. Would re-tiling it be a big job? Box it in? Cover with sticky laminate? I'm at a total loss! Any advice or tips would be most welcome!
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