Absolutely, if you don't have the speakers yet, go for some that are not too picky about placement (Dynaudio, Audio Physics, most good monitors). Stay clear of dipoles, bipoles and time alligned (Thiel) as they like the listener further out (over 8 feet). Set up for near field listening and you will have good results (Cardas's web site has a nice formula for rectangular rooms).
I am very happy in my 15 by 10 room (Dynaudio Contours 1.8 II), which my ceilings where as high as yours though...
I am very happy in my 15 by 10 room (Dynaudio Contours 1.8 II), which my ceilings where as high as yours though...