I recently refurnished and organized my "craft room". It got to the point where I rarely created a thing in there..just went in to get some stuff out from my stash. Since I have totally redone the space I now call it my "studio". I have a few work spaces and three machines out and a quilting frame set up in the middle of the room. Its not a huge room but it is plenty of space for me to be happy in.
I think of it like when I was a child we had a parlor.....no one says that word anymore when talking about their living room. So I have left the "craft room" term behind as I left behind the term parlor. Now I have a living room in my home and I also have a studio.