Social Fixer (socialfixer.com), formerly called Better Facebook, is exactly that: a way to streamline Facebook to take out the annoying features, and tweak the ones you want to keep, to create a better Facebook experience.
It's free, and will automatically discover what browser you are using and provides the appropriate add-in. Once added, it will take you through a Wizard to show you to use the most commonly used features of Social Fixer. A small icon will then appear in the upper right corner to give you access to all the tools available in Social Fixer.
You should definitely click the icon to see all the options allowed (the screenshot below is just one of fourteen tabs of options). The Wizard will take you through the most basic options, but clicking the icon and seeing all the options available is really where Social Fixer begins to shine. You can change the width of the display (or go full width of your browser window), add and remove features in the side columns, force the most recent stories to display first (as opposed to Facebook deciding what you want to see), get rid of sponsored posts, change color themes, even write your own CSS for your Facebook page.
Because of the sheer number of available options, it takes some tweaking to get things just right, turning off some features after you've tried them, turning some features back on. But after getting a sense of how Social Fixer works, you can customize Facebook to make it a much more useful and enjoyable experience.