I run across homes with wierdo spaces all the time, and when I do, I turn them into LIBRARIES.
Not a "reading nook" or a study, but as close to a library as I can get it.
No matter how small, I try to finagle it.
Why? Because a library says grace, charm, and upscale living. Many of us still remember how magical visiting a real library can be. A library offers a promise of living an unhurried, intellectually stimulating and inspired lifestyle.
Even in the smallest weird space, I can find a way to fit in at least some of the following elements:
1. Comfy Chair (or two if space allows)
2. Footstool or ottoman
3. Reading lamp (even if it has to be attached to a wall)
4. Shelving (it doesn't have to be to the ceiling, permanent, or expensive)
4. Books with very interesting titles (thrift stores for 25 cents-$1)
5. A framed map or two
6. A framed black and white photo of the local library
7. A small table or place to put a cup of coffee or tea
And VOILA! an unforgettable space whose purpose may be largely forgotten, but still strikes that chord of luxury and sophistication on a budget.