I bought two sawhorse like leg sets from Ikea and the table top that goes with them. I got the legs that are for a drafting table because they can be raised or lowered. I bought a close out table top so it was only $20. I think the legs are $20 each as well. The legs each have one shelf.

I also use a small drafting table. My cutting mat just fits on the top. I do not use it for an ironing surface, though (not sure if you wanted something multi-purpose, or just for cutting).

I needed something that could be folded up flat when not in use, and the drafting table works pretty well (although it is a tad heavier than I'd like).

I also got the fold down leaf cutting table at JoAnn's with a 60% off coupon. Works great and does not take up a lot of space. It is in my laundry/sewing room and I sometimes put one leaf up to fold clothes on.

I use a door placed on top of 2 inexpensive bookcases. I skirted the front so I can hide items below on the floor. I can store fabric and supplies on the book shelves. I have a cutting board at one end, ironing mat at the other and place my machine next to the ironing mat. It is higher than a table but a little lower than counter height.
Works for me.

Check out what Amazon.com has to offer - lots of reasonable option

I have a folding table from lowes. Cost about 40.00, very sturdy.

Pay attention to ergonomics, too. You should be able to find information on the web. For instance, I am 5'6" and my cutting table (which I designed and hubby built) is 36 inches tall. It's perfect for me. It has a three foot deep center and big wings on each side that can be raised. I have both drawers and shelves in the middle part, and the drawers are the most helpful. One of my drawers is 28 inches tall on the inside and has partitions, and I use that for standing up rulers. I keep rotary cutting supplies in the drawer above it.

Another idea is to use kitchen cabinets and put a kitchen counter top across them. You can usually find seconds or used ones. I did that before I had this table and that was about 36 inches tall, 2 feet wide, and 5 feet long. It worked well also.

There are these things called bed risers and you can buy them at walmart . they are under 10.00 hope this helps.

If you have wall space you could put a board, hinged to the wall. Under the board or door, you will need maybe 2 swing out braces--like drop leaf tables-there are also some hardware pieces that could do this as well. This would give you a cutting table 40 inches off the floor--you get to put it at a level you want, and it would take up just a little bit of space.
I hope I described it well enough. If you have a dh ask him, I bet he will understand just how to do it. They usually feel pretty satisfied when they can make a project that you want that is really pretty easy!

The table I wanted to buy was sold! So I'm still on the hunt.