Any ideas on what to do to make this nicer and what to use it for?

Turn it up side down add short legs.then add a foam covered cushion base. Paint cubby holes different colours to match fabric used. Use for a seat and shoe store.

Cold mount on wall , add baskets use for storage.

I would paint to coordinate with your decor. Paint or paper the back of the cubbies to give them interest and depth. Either hang on the wall and use for display or as Sallywinstone suggested, make a bench or seat. Hanging in a bathroom with rolled towels and daily essentials in pretty containers would look nice too. Craft room for supplies? Kids room with toys or books? Sunny spot would be a good plant hangout.

Would you want to add legs and use it as a little bookshelf? like this peice http://www.hometalk.com/diy/living-room/furniture/home-depot-monthly-gift-challenge-bookshelf-knock-off-11542470

Or, you can hang it on the wall for higher-storage.

Have fun with it!!

I'm thinking dollhouse!

I would let my child paint it and put it in there room to put books on or what ever the child wants on it.

Hmmm, I see the shoes sitting beside it and they look like they could fit into one of the cubby holes. So use it as part of the front/backdoor entryway storage area. I would attach to a wall about hip high and then you would also have a place to put your keys and mail when you talk in the door!

Oh and painting inside the holes with several different colors would look great!

I would find something to use it for!! I like it just the way it is.

put legs on it, open squares on top, put stuff inside squares, put tempered glass on

and use for coffee table

I think I would distress it or completely sand it for a more natural or farmhouse look (because that tchotchke screams farmhouse to me); hang it upside down at about 4-5' (so decorative edge faces down), put cute farmhouse hooks on it for keys or jackets, use the cubbies for mail & kids' in/out school papers; cut a circle in the bottom of one out and add a charger (like the ones they sell at ikea http://www.ikea.com/us/en/catalog/products/80308307/ ) so you can place phones in. I'd cut names of each family member with a silhouette/ cricut and assign each person a cubbie. One cubbie would just say "CHARGE" for the charging station.