Thank you all for your advice and suggestions!
I have decided to keep the tank. Not only keep it but go BIG with it! I plan to make it a project tank that I most likely won't even set up for a while.
Currently it is light wood colored. This is half the reason I thought it looked too big and stood out too much. I hate the color/look.(pic uploaded) I plan to sand down and paint the stand black for sure and most likely paint the tank edges black as well.
I would also like to put a 20-30 gallon sump in the cabinet underneath. It came down to a nice canister or building a sump and from research I see more advantages of a sump and really love the fact of your water level never changing. I know you must do it right and there is the back-flow concern if power goes out. Looking into possibly drilling tank but I am kinda scared to.. LOL
I am also looking into doing a small 3d background made out of styrofoam. I've been researching all over the internet and think they are very cool! (the extra 6" you've been talking about will come in nice for this!)
I plan to make this a planted tank but still far away from setting it up to know what type of freshwater tank I want it to be..
Hoping the weather gets nice soon and I can get this out in the non-insutlated garage to start working on it!
Still up for suggestions about what cool things I can do with this tank, what type of freshwater tank to make it and problems that might arise or different ways of doing these upgrades.