Bedroom with loft. What a great use of space for a room with a vaulted ceiling. A walk in closet could be under that loft and you haven't lost any space. ** Could be a good office space, with the bed up in the loft.
Love this play area over the bed, like the anti-loft bed. I think I& leave off the first couple of steps of the ladder and make it a safer place for the older kids to play with and store their LEGO creations. (Apartment Therapy with loft bed inspiration)
Storage beds made from old kitchen cabinets with a secret hangout spot. Want this for my girls when they get older! Better than bunk beds! The secret hangout spot is great, wish I could fit in it myself.
21 Loft Beds in Different Styles, Space Saving Ideas for Small Rooms
This is another example of a layout that would be easy to install in a studio apartment - a loft bed with stairs would be a cheaper and nicer space saving solution than buying a Murphy bed. Maybe even in a small bedroom.