You can get window-shattering sound out of your receiver with the right speakers.
There is a whole class of tube amps called single-ended triodes (SET) that only output a couple of watts, some only one watt, and there are speakers for which this is plenty of power. There are literally HUNDREDS of speakers that will sing with 20 watts.
Speakers are rated for both a) maximum SPL, that is, how loud is the loudest sound they can produce and by b) sensitivity or how much power it takes to put out a certain amount of sound. The standard spec is dB/w/m or how much sound, in decibels, is produced 1 meter from the speaker when 1 watt of input signal is applied. The range for consumer speakers runs from about 83 dB/w/m up to over 100. Bear in mind that you need to DOUBLE the power to raise the output just 3dB, so the difference between 83 and 100 is huge. To generate the same SPL (sound pressure level) that you'd get pumping 1W into a 101 dB/w/m speaker, you'd need to pump 64 WATTS into an 83 dB/w/m speaker. Yes, you'd need 64 times more power to get the same sound level. So, as you can see, choice of speakers is key.
There are plenty of sensitive speakers out there. Older Klipsch come to mind... you could pick up a pair of reasonably cheap KG-2's or similar. Older Cerwin-Vegas were quite efficient too. Tons of options. I'd recommend keeping an eye on your local craigslist, then check the specs on speakers to see where they fall on the efficiency scale to decide if you want to look at them.