I keep my fabrics in those plastic drawers stacked in the closet, and 2 smaller sets stuffed with envelope patterns, trims, cutting tools, etc. I have an old file cabinet in the closet for quilting magazines. I was my fabric before I fold it and put them into the drawers. labeling the outside with the color. Sometimes I will go to the dining table to cut my fabric.
I put potential projects together (pattern and material) in larger see through bins. I am full to capacity and vow to not buy more till some of those projects are done. It all fits in the closet. My machine sits on a gateleg table that I can expand. I use the ironing board for support when quilting and sit in front of the tv to do the binding. My computer desk and a sofa and bookcase are in here too so I can rest as needed. It is hard to keep it all clean though.