In a living room that is both narrow and small, there's only really one way you can arrange the furniture, and that's to place the TV and the sofa in parallel to each other against the wall. As your sofa is going to be the main focal point here, you can afford to be bold with it: a bright colour or statement fabric like velvet will always work well in a small and narrow room.
The biggest challenge with this sort of living room is that it can easily end up feeling more like a hallway or corridor than a living area - a problem that is sometimes called the 'bowling alley' effect. To avoid this, you need to find clever ways to break up the space without making the room look cluttered. A transparent Perspex or acrylic coffee table can work very well in a narrow living room, as it breaks up the space without making the floor look too busy.
If the room is very long, adding a statement accent chair at one end will also help to 'close up' the space. Mirrors can help open up the space, but place them on the longest walls, as this will help make the space feel wider rather than longer.