Especially in a small room, but regardless, I'd start from the bottom up. That is, bass traps; the deeper, the better. Well, within reason, of course. Yes, fiberglass rather than foam.
Also, again especially in smaller rooms, do check for flutter echoes between hard, parallel surfaces. To solve this you don't necessarily need 2" or 3" thick material, and only near one face (or halfway, but that's less practical) is enough.
Trying to decide if having a little something will help out more then not having anything.
Yes, a little something can surely help, but only if applied wisely. For instance, there's nothing worse IMO than a room that's deadened except for the (harder to do and often most problematic) lows. Dark and dull mess and still with standing waves, major peaks and nulls etc. Worse actually than the initial situation. And countless "acoustically treated" rooms are exactly like that.
For wiser guys than me, go to Gearslutz's specialized section.