Well you shouldn't have the PS1 mounted on top of the Xbox, not good for proper airflow and heat dissipation.

Also, the cd tray for the Xbox is gonna hit the P1 controller cord from thr PS1, also not ideal.

And the overall placement of the set up will probably impede the walking routes of any one other than you that uses the living room.

2/5

EDIT:

Ostensibly, a living room is meant to be a group space, as well as transited through, and well this set up...

... it really cuts down on any potential spontaneous horseplay.