If space is tight and you cannot elevate an entire section, consider a platform, perhaps of various levels for art displays. To make a room come alive with drama, varying the floor levels can help. When you walk into a room and have to take one or two steps down to actually be in the room , feelings of grandeur seem to conjure up. A bedroom, for example, can have drama if the bed is up on a level or two higher than the rest of the room. If space allows, make the platform wide enough for the night stands, too, so the whole ensemble seems to be floating on an island.
Mirrored ceilings can be another way to create drama and add illusionary levels.
A mirrored dining room ceiling can open a small room up, giving height to an otherwise normal or claustrophobic ceiling level. If you have a tray ceiling, mirroring the flat part in the center can add height to the room. When varying the floor levels in a room, please remember safety first. Though you want a visually smooth transition from one level to the other, at least change the floor finish. Use tile or marble on the upper levels and carpet in the sunken area.