K.W.
I have to laugh because he's 16 months old! So be prepared for this to continue for awhile....he's acting like a very typical baby his age. Testing his grounds while at the same time not having a complete grasp on language. There is really no reason to yell though....
My pediatrician started recommending time outs at 18 months old, my son however was not ready to grasp the concept of action and consequence yet: if you do this, then this will happen. So we practiced re-direction--if he grabbed something he shouldn't then he would get a firm "no" and then redirect him to something he could touch or play with. He's two now though and time outs work great now.
If your son, is ready to understand consequences-then implement time outs now. My pediatrician recommend using the pack n play for this and it has worked great for us (esp since at this age getting them to sit on a stool or step can be a feat in itself.)
Start with a warning: Right after the behavior-get eye level and directly tell them, if you do ______ again, then you will get a time out.
When they do it again like they are bound to do, get eye level again, and say "I told you not to _______, now you are going into time out." Calmly bring him to the time out area--which should be clear of any interactions--toys, TV, etc. and then walk away (this is where the PNP worked great).. A good rule of thumb is time outs should be in minutes as they are in age so at 16 months, 1-1.5 min should be fine. I even have an egg timer now by the PNP.
After the time is up, go back to him, state again at eye level why he went in time out, ask him if he's sorry, and give him a hug.
Rinse and repeat.
By doing this, I've gotten my toddler to stop walking on the couch, climbing on tables, touching the TV, etc. usually takes a couple of times in one day and maybe a few "refreshers" after that when he decides to test it again. Of course all kids have different temperments, so you may have to do it more or less than I do. They key things are remaining calm, talking at eye level to make sure they have your attention, and consistency...
Good luck!