Yes, two of us lived in a studio for three years and even now feel that those three years must have been the happiest of all our time together.
The living space (sleeping alcove and one large area) was L-shaped. The kitchen was as you would enter (we purchased a portable dishwasher on wheels), to the left of the large area; and in back of that was the bathroom, which was entered through the sleeping alcove.
Coming from a one-bedroom apartment, we squeezed in items and gave away other things. We took the mirrors off a triple dresser and it became a buffet, facing the entry door. Please note, we left a foot or more behind this buffet before the wall ~ this gave us additional storage space.
At right angle, was the armoire. Across this corner of the large room was the sleeping alcove that actually was able to accommodate a queen-size bed and two night tables. At the foot of the bed, we had a chest. At the bathroom door, we put two wooden shelving units, with the shelves facing the large room. This gave privacy to the sleeping alcove, and held a TV.
In the large room, upon entry was a small table and 2 chairs. Going further into the large room was a large sectional sofa on one side, with a coffee table and directly across was a large TV in a cabinet.
The saving grace was plenty of closet space. Some in the large room, one in the sleeping alcove and another in the dressing area of the bathroom.
Let your imagination grow and you probably won't even move, after paying off all your bills.