2 Channel Speaker Placement Need Help

I'm setting up my 2 channel home stereo and am having terrible issues with reflections. Speakers are setup in the living room area of a single bedroom apartment. They are a/d/s/ M-15 Tower speakers with 4 10" bass drivers total. Every possible setup I try yields terribly bad reflections in the room especially in the designated listening position. I am considering lining my walls with some sort of sound/reflection dampening material. Is there any certain brand I should look for? Have any other audiophiles done this and how did it work out for you?

Current setup-
Adcom GCD 575 Cd player
Adcom GFP 555 II preamp Recapped
Adcom GFA 5200 Power amp
a/d/s/ M15 speakers

Thanks for any help!! -Keith