I’m thinking mega bed on the bottom left, dresser bottom middle (next to the door) and desks stay where they are. The top part can be for studying and your living area, but I would also get curtains or something since it can be hard for your brain to associate your room with anything else other than sleep if desks and your bed are in the same place

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Make the upper half into a bedroom with mega-bed if you are allowed to move the second bed, make the lower half into a living room.

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mega bed

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if you’re allowed to use furniture from both sides: mega bed and dresser in one half and then the other half make a mega desk

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Mega bed would block the closet in the top right, so you would have to make the mega bed in the bottom left

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First area to left make a living room with a futon and push the beds together on the right

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