Okay, I really liked Ima's ideas for Karma's room. But I have a few additional space saving ideas, since the room seems REALLY FREAKIN' SMALL.

Instead of a huge bookcase, why don't you mount shelves to the wall? You can get them for cheap at Home Depot or Ikea.

These aren't the most attractive, but they're only $53 each at Home Depot and they'll get the job done while saving valuable floor space.

You've got to think vertical - tall, skinny furniture instead of wide, low pieces. Ima's loft bed with the sofa underneath is fantastic.

If you don't have room for the two little tables, why not buy one or two tables like this? They slide right up to the couch, and you can eat on them and/or work on the laptop. They're just $12.99 each at Ikea
Again, it's not beautiful, but it's functionalAgain, it's not beautiful, but it's functional

Or, you could buy some folding trays and store them behind the couch when you're not using them.

That's all I got for now. I'll post more if I get any more ideas.