I found one of those 3 drawer plastic units at Wally world, works great..I too had my thread on racks and they just collect dust. Good luck

I use plastic 3 drawer or 4 drawer cabinets with casters from Office Supply...my husband cut white peg board to
fit in the drawers, then cut and glued pieces of dowel into the holes...spaced them for room for the thread spools
works out great...I keep mine in a closet in sewing room and can just wheel it where ever I want it.

I use a pegboard: http://kitlangfiberart.blogspot.com/...ow-you-it.html and love it!

Terrific ideas on this thread!

Today, after reviewing the above blog, I cleaned up an old typesetter's drawer that I found at an antique store a few years back but never used. It is now hanging on my studio wall beside one of my sewing machines with my thread and my thimble collection on display. Not all of the thread would fit, as the compartments are not large enough for the big spools, so I kept the June Tailor thread rack that I have been using. It's hanging on the wall under the typesetter's drawer. I really like the "rainbow effect".

I have 4 of the June Tailor thread racks hanging on the wall. I use all the thread so much never noticed it getting dusty..I do alterations so it's used almost daily. Never thought about covering the racks

I purchased these drawers cabinets (the photo shows two) from Ikea and they are located next to the machine I use the most. A drawer for every color (though black, white and grey share one) with some extra drawers for machine tools, seam ripper, bobbins and other often used items.They work as an extension of my sewing table as well.
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I do lots of embroidery, so I have LOTS of thread. I got one of the multi drawer roller carts at JoAnn's. The drawers are different colors, so, I have red thread in the red drawer and so on. For general sewing or other speciality threads, I have red plastic boxes that I got at the hardware store. I have them lined up on the divider in my sewing studio. No, they are not covered, but don't seem to get much dust. I just may cover them with thin vinyl.

Those little tiny plastic bags they sell at Hobby Lobby. They are for Jewelry makers primarily, i think. They are just right size for a spool of thread. No matter how you store them they stay dust free and don't get unwound and tangled. I throw them into baskets. One for black and white, one for brown,tan,gray (gray is every quilters favorite color), one for red,pink,purple,yellow,warm colors, and one for cool colors blues and greens.

I have 4 June Tailor racks on my wall and I need another one for my regular thread. I use it everyday because I do alterations, so it doesn't really get dusty. My serger thread I store in 2 drawers in one of those plastic 3 drawer "storage dressers". I made dividers big enough to hold 4 spools for each color. Works great.

Previously, I had racks my DH made and placed above the windows. Yes, there was a dust problem, but not horrible as I have air filtration in every room. Now I have 4 drawers. One of the dresser drawers (Sterilite, plastic stackable dressers which I got at Walmart) is plain cone thread. Another is metallics and variable cones. I have 2 much smaller drawers for smaller plain threads, many for hand work. This set up works well for me, although the plain cone drawer is VERY full. All of my thread is protected from dust and from light damage.