In need of a facelift

I bought this cabinet at Lakewood with no idea what I was going to do with it, but I had to have it. It's a wonderfully multi-functional piece of furniture due to its height, depth and overall size. It is currently a night table in my bedroom and holds my bedsheets (which were jammed in the hall linen closet). I think I want to do something to it to give it a little ooomph. Just not sure what that would entail. Stripping and refinishing? Stripping and painting? Stripping, painting and then using accent colors on the bas-relief embellishments and the carved legs? Leave it alone?

Any ideas?