I'm a little late on this but just some ideas. Storage is partially based on what you do. I quilt, paper piece, but I also sew garments and accessories (I LOVE my treadles!). I also have some 'unique' challenges. My sewing room is the upper floor of our garage with 8 windows (4 on each side) and constant access of birds, cats and dust/ sawdust from DH 'workshop'. But here is what I do.
Itty bitty pieces (paper piecing) I have small clear plastic bins- arrange by color.
Fat quarters/ quilt block sized pieces- are stacked on shelves with doors by color and I keep 'size tags' on them so I have some idea what i'm working with before i'm half way through a project and kicking myself for trying to match a fabric that I bought a year ago- doors keep the birds out.
Fabric that is 1/2 a yard or more are rolled on cardbord slats (just cut from boxes) with size tags, they are stored on a peg board with hooks that hold then ends of the cardboard, arranged by color and behind a clear plastic sheet- again birds
Specialty fabrics- velvet etc are kept in garment bags on rack build out in the corner from the pegboard with size tags.
I also have bobbin storage boxes at each machine with it's own bobbins and then a thread rack (fits in under the fat quarter shelves)
Current project is on a home made felt board on an apposing wall (yes it's HUGE). I can lay out an entire king size quilt and still have an extra 2 ft on each side for notes/ alterations etc. but it folds up to about the size of a small sewing table top if I need to. and it has a plastic drape cover (clear) that I can roll to the side.
The manequin holds a current dress in progress as needed and also has a clear cover.
Just ideas and how I do it :) all this actually doesn't take up as much space as you have.
Cheryl