For the most use of your space: Usually a U shaped area for sewing machine, cutting mat (even a small one) next to the machine when pressing seams open, and an ironing area (could be as simple as covering a board with batting and fabric. If you have extra space to the left of your machine this will help to hold your quilt when sewing on binding or perhaps quilting small quilts, runners etc. Having a section for rulers, and notions are a must. You could get a strong long narrow wooden box to hold your rulers on a table so that the larger rulers can lean against the wall for support. Having some sort of container whether it be a basket, tin box, etc. to have the most used tools handy. Of course if you have an area for shelves (it is good to have 12 inch deep shelves for fabric) It could be a book shelf or a closet with shelves. If you have room for a design wall it is a plus. If you do not have room for a large design wall, you could cover some type of board whether it be plywood, cardboard, foam board etc. just cover it with batting or a plastic table cloth using the backside. A lightbox is also good to have if you do alot of applique.
There are several ways to make one (check on-line) it is much cheaper than buying one. If you seldom do applique you could get by with something as simple as a piece of glass/plexi-glass with a lamp underneath. A glass coffee table works too. Hope this helps. Have fun.