I would suggest that for organizing your fabrics it might help to either staple bits onto 3X5 cards and write down how much and where you're putting it (bin number or some such) or take pictures and keep them digitally organized in a folder on your computer. For a time my sewing table was in a 6' wide closet. A peg board right over my machine was a big help for a lot of smaller tools, rulers and such and on my right a magnetic strip (sold for kitchen knives) was a good place for scissors and other things that were metal. Less used stuff stayed in overhead shelves, but not all of that was for sewing. Thread can be kept on something as simple as a board with nails tapped in at an angle so you can hang it on a wall. I had plastic drawers for fabric next to my machine. I have more room now, but the closet arrangement I used to have tended to stay neater from necessity, and the best part about it was I could close the door and it was all out of sight.
If you have room for something like a large upright TV cabinet, a lot of people are abandoning them since flat screens came along, and you can find them cheap at resale shops. You can put bins where the TV used to be, and there are usually cubbies or drawers that can hold other things. A silverware divider will hold a lot of sewing stuff neatly and accessibly, and might it tuck into the space where a VCR used to be.