While making my show, the one thing that made a real difference was the lighting. Its not as expensive as you might think. With two or 3 parcans (lighting heads) some gels (coloured film that goes over the lighting head) and a smoke machine (cheap one), you can make any room more epic!
It is useful to have a white lightsorce as well as your coloured light. It makes nicer to look at.
This whole set up should cost less than £50