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?
paulcreed
Primacoustic panels at all first reflection points (all four walls plus ceiling). Alternately, setup on a 45* axis. 
Obviously, this mandates a dedicated room to try the "45".
My dedicated room is also almost square, almost 14x14.
Sounds wonderful (only after the treatments placed).

Tom
From everything I've read, square rooms are very challenging,but doable. You'll need to treat your room. Take the advice of the above posters. 
I'm using Magnepan LRS with and without their DWM woofer and sounds great in similar room.  Chairs, bookcases, area rugs, wall hangings, all kinds of free room treatments available...very do-able !!!
If you are able to set up a nearfield listening position...you probably won't have to turn the volume up as much as if you were 10' away which will reduce some of the unwanted reflections and give you a better overall sound...this would be a good place to start because the investment is zero...and then if you aren't happy with the sound you can start exploring treatments.
You might consider setting up the system on the diagonal. Will the couch fit that way?  I know of several users who get better results that way in square rooms.

Nice to have a 9-foot ceiling!