two twin beds. A curtain hung from that cute heading would disguise your "bedroom" if you chose. A curtain would work above as well for either a bed or built in shelves and hanging space for your clothing; I really love the idea of deep, built-in beds
Bedroom with loft. What a great use of space for a room with a vaulted ceiling. A walk in closet could be under that loft and you haven't lost any space. ** Could be a good office space, with the bed up in the loft.
Built-in bunk beds is a great idea to preserve space. The built-in book shelves also help to create more storage for toys, books and etc. The first step of the ladder has been eliminated in order to add under bed storage/trundle.
"Aiming for a coastal bedroom decor? Paddles emphasize the sea/beach theme and make for great wall decorations. Different size paddles can also be arranged and used as a headboard in a coastal bedroom." Other headboard ideas at the link.
Loft style bunk Bed with couch seating underneath and shelves / bookcase / display (or maybe a study area?) underneath the stairs to the bed. Love the open-style frame in espresso wood with white bedding and furniture.