Before you go out and buy acoustic panels and start hanging them up wherever they look cool, hold on a second. There’s actually a best and worst way to do this. The room you choose will determine how many acoustic panels you need and where to put them.
If you have a smaller room, you’ll need more absorption because sound waves bounce around the room quicker, leading to harsh ringing tones. However, you don’t want to put too many panels up and make the sound of the room completely dead. With bigger rooms, especially those with higher ceilings, you won’t need as many.
Really it comes down to each specific room — no two rooms are exactly alike. Even if they have the same dimensions, there will be different things in the room for the sound waves to bounce off of. You’ll want to test the sound in whatever room you’re using.