There are multiple questions related to that and I think this answer
was most useful. I logged in with another user and for him the Display settings menu works just fine. So following the answer I get to the conclusion:
It's likely going to be something in .gconf or .config in which case you have to dig deeper. The problem is that I don't know how to dig deeper.
I have already tried solutions in many other answers. I have reinstalled nvidia drivers, ubuntu-desktop, xorg, xserver-xorg and all other tips from this answer(short of fresh install that I really want to avoid).
I am using ubuntu 16.04(4.4.0-31-generic amd64) on lenovo w530 laptop. Any ideas on how I can fix the issue?