I have a tiny 8 ft x 9 ft sewing room with a bay window (it used to be my dining room but we never used it for eating - it used to be my reading nook).
I have my grandfather's office credenza on one wall - my 2 computerized machines live there. My Singer treadle machine is against the left side of the bay window - when the cabinet is closed Elna lives on it. My professional ironing board ($10 from a garage sale) is in here too along with 2 side tables, a 3-drawer plastic 'dresser' for my cabbage, a metal 2-shelf unit on wheels for my threads and patterns, and two 5-shelf metal shelving units (got on sale) on wheels.
I had to go up to get more room. The tallest shelving units have sewing items on the shelves as well as items hung on the backs and sides - batting on the back of one, extra cutting mat on the back of the other. Rulers and templates on one side, wool pressing mats on the other. The other unit has my irons in a portable ironing mat bag, project ideas, and my old ironing board covered in batting, then cloth, and hooks stuck in the holes for more hanging spots. Hanging baskets hold all sorts of things. I had to be creative to get it to work and couldn't waste an inch.
Found a chair on the curb last summer and this winter I reupholstered it for the treadle table - I have a bag hanging off of it holding sewing things there too.
I believe I've spent less than $250 for all my storage and it's working well.