When it comes to tweaking picture settings on a TV, colors don't necessarily get the attention they deserve. The focus tends to be on factors like brightness and motion smoothing, and if colors do come up, it's liable to be about addressing issues with tint or HDR. I'm sure I don't need to tell you, though, that washed out colors can be as much of a problem as anything — they can make a movie look bland, or downright ugly.
I should say here that this problem isn't necessarily a result of settings. In some circumstances, it could be a panel defect, or simply a matter of perspective. TV makers often use exaggerated defaults to attract store shoppers, so anything else might look weak by comparison, no matter if it's what a filmmaker intended. If neither of these explanations sound likely, here are a few tricks you can try to remedy the situation.
Picture modes
The shotgun solution
This may be the quickest option, but it's not necessarily the best. The issue is that picture modes are really just presets that change multiple settings at once. So while they may solve issues with colors being washed out, you might also skew other image qualities in a way you don't like, say by boosting sharpness too high.
You'll have to experiment with modes to see which one works best for you. Beyond the fact that options can vary between brands and software platforms, they…