From what I've been told, acoustics depend on the frequencies you are trying to target. You can use various materials to break-up and skatter the sound like a wall of stacked firewood or rustic timbers. I did both for esthetics and acoustics. As far as ceiling panels goes, flat will reflect and certain materials will absorb. In my case I'll be getting 34"x34"x6" high hollow box clouds made from 1/2" thick felt and stuffing them with 6" Rockwool Safe and Sound acoustic insulation. They will be suspended with a 4" gap and this gap + the height of the box creates 10" of absorption. It sounds strange but apparently the distance of the underside of a panel that's suspended from the ceiling changes how the cloud behaves. And for me this 4" gap helps target some of the upper bass/lower mid frequencies and not just the high frequencies. They won't target deeper bass.
I don't have room for acoustic wall treatments so I'm depending on these box clouds and an artistic 3D wood panel on the front wall to help improve conditions. It's far from perfect but it's something.
I rendered these box clouds and that 3D wooden art panel into my existing room. Room esthetics is very important to me so I'm treating the room with this in mind.

