I have 5 clear plastic shoe boxes. I labeled them and keep certain colors in certain boxes. Example - blue/green, black/white, pink/red/purple. It's not nearly as beautiful as Suz in Iowa but it does the trick for me. When I need blue thread, I pull out that shoebox and since it's clear, I first hold it up to see if I can see the perfect color right away. If not, I start unpacking the box until I find something suitable.
That's my spool threads. I don't have a lot of cone threads, they are just lined up on a shelf.
I'm also in the basement Suz, but I just have a small portion of it. I'm drooling over your space!