Bookcases with books of varying depths can work pretty well, but a normal picture won't, since it'll reflect about the same as the wall, if not even more. You need to diffuse the sound. There are artsy panels, but they do get expensive.
First reflections are the biggest thing to tame. That's exactly what it sounds like. The first, direct reflection between the speakers and the viewer on all surfaces. The easy way to find those is to set up all the speakers and then use a mirror flat on each wall, floor and ceiling, and find...