Wherever you put your wall, make sure to keep the area in front of it clear so you can easily access it. I say this from experience as I have a second sewing machine on a small table along the side of mine and sometimes need to move it. My space is limited, so have easy slide or rollers on the bottoms of things so I can move at will but it's a real pain.
We store the guest boxspring and mattress against a wall in my sewing room and I cover it with a flannel sheet and use that as a design wall. It works great because I always put the boxspring top facing the room which gives me a surface below the sheet that has a bit of give. It wasn't big enough, though, so I bought a queen-size flannel sheet and have hung it on the wall behind that machine. My husband screwed a piece of 1x4 wood along the top of the wall, I screwed in hooks and hang it using binder clips. Things don't stick quite so easily to this one, I think because there is no give behind it.