It seems like you've got plenty of space.. maybe built-in storage under stairs? I would say that, all comes down to your interior design and preference of choice.. similar stairs were painted here: Modern stairs painted white

what ideas do you have to tie the wainscoting into the existing trim molding at the first landing or do you suggest we remove the existing trim molding under the landing railing?

Thanks for your reply and examples. I'll be changing the pendant light. It's not to my taste. I'm considering a beige colour on the panelling now and a off white on the walls. I'd love to change the carpet on the start to an oatmeal neutral colour but with a strong border. I'll paint the stair spindles white but not sure what to do with the banisters. I'll like a strong colour but not sure what would look best. Any thoughts?

Steep stairs solutions , love it but danagerous to walk down, appreciate any ideas