It's an awful eye sore builder's always seem to put in the most obvious places even when there's an attached garage, or a basement, or even a large closet somewhere.
Solution: Build a frame out of 2x2's around the panel. Build a smaller frame out of trim (or whatever you like as a picture frame). Attach the smaller frame to the frame on the wall with self closing hinges (ok, maybe paint everything first, lol) and insert a photo or painting of your choice.
Unfortunately you can't do anything about placement, hello 1 inch from my countertop and cabinets (also preventing me from building more upper cabinets on that wall)
But, it's better than staring at that ugly gray box :)