Harriet Hargraves has a great section in her book Heirloom Machine Quilting about setting up a sewing room.
My tip is shelves, shelves and more shelves. That way, you have space for your fabrics, supplies, books and WIPs (note I do not say UFOs).
I set up my sewing area so that it was in a "U" shape. One side has my pressing station and one side has a cutting / trimming station. That way, I can sew, press and trim without moving. It sure saves time.