I have 2 homemade wooden racks that my husband (not a serious woodworker) made out of scrap wood. I would find space for them even if it were under the ironing board and I was banging my toes on them.
Because I have had to replace some rulers that were annoyingly scratched, I would be leery of hanging them against each other on a nail. Not sure why I am scratching them - it may be sliding them over pins - but it's irritating to spend money that way instead of on fabric.
The pegboard idea could allow for hanging individually, I would think.
hugs,
charlotte