I use the clothes racks, BUT I zip tie peg board to them...front and back so it can be seen both sides..IF you have the room to do that..if not one side is plenty!
Paint the peg board a nice neutral color, but not too light..you can find the small hooks for the peg board at Lowe's usually. YOu can also get Shelf brackets for the peg board and put a small shelf on the top and bottom for stability! and for standing bags!
Good luck!