I love hearing how everyone stores their fabric. There are some great ideas here!
I prefer my fabric folded neatly on open shelves where I can see it. This is my personal stash last month. (We just moved and the paint on my new studio floor is drying (concrete, basement) and I'll probably get it put together next week).
I group my fabric by style: modern prints, homespuns, Civil War repros, etc. and then by either fabric collection (the modern fabrics I have are mostly complete lines) or color (like the repros). Except for pieces over 3 yards, I wrap the fabric around my 6" ruler and then fold it in half so the fold shows at the edge. I have a lot of smaller cuts, so it works well for me. Anything with more yardage is folded at 12" and then in half and stored on the lower shelves.