One thing to check is whether you've connected the turntable to the R-700 correctly. Make sure you have 'Line' selected on the back of the LP60 and connect the turntable to the AUX input of the R700. Does that sound better? Alternatively, flip the switch to 'Phono' and connect to the PHONO input on the receiver. Does that make a difference?
You can also play around with speaker placement. Start with the tweeters at ear level with speakers and the listening position forming an equilateral triangle. Move the speakers closer to the back wall or closer to corners to increase bass output - note that this might also affect midrange / treble response. Move your listening position back and forth. Have speakers parallel to the back wall (firing straight ahead) at first. Then also try turning them in to face you (toe-in) in small increments. Note that your speakers won't provide you with visceral, gut pounding bass - you'd need a subwoofer for that - but it should be adequate for most music.
Finally, once you've got the speakers sounding the best you can through placement, try using the tone controls (loudness / bass / treble) to tweak the balance.
If after all that effort you still don't like what you're hearing then maybe you just don't like the sound of the speakers themselves.