I don't have alot of space either. I have a gGrace quilting frame so it took alot of avaiable room. I bought on the the plastic 4 shelf units and put 2 shelves together and put them under my frame back to back. they hold 24 plastic shoe boxes in those I keep project with lables and whaterver pertains to that project.
Then I bought 2 of the Deep 3 drawer plactic storage units they are side by side under the other side of the frame. It holds a good amount of fabric and I labled the drawers so I know at a glance whats in them.
Then under one corner is a 120 spool thread rack . and a large woven basket that hold on EQ books and some patterns.
I have my emboridery machine on a small rolling tv cart and that gives me some more storage on the 2 shelves in that.