Is it even possible to set up a system in 12x12 room?

I am moving next week and there is an extra room that is 12x12 with 9 foot ceiling. This will not be my main system but I have an extra gear I would like to use. I have never set up a system in a square room and definitely not this small of a room. I have a couple pair of 8 ohm 87 db monitors that go down around 40 to 50hz and a pair of 6 ohm 87db floorstanders that go to 27hz with ports in the front. I have a el84 tube amp that is 25 watts and a 150 watt solid state amp with a tube Preamp. The couch will have to go directly on back wall and may be able to pull speakers 2 to 3 feet off front wall and maybe a foot or so off side walls. Is there anyway to make this enjoyable to listen too? I know I'm going to have to treat room but where would panels perform best or am I wasting my time?