Here's what I came up with: Small boxes for tiny scraps, medium boxes for larger cuts, and big boxes for things like old sheets and big or thick pieces. It's working right now, and I'm hoping that being able to see things will help me to use what I have. I'd like to get Mom's fabric stash from Dad's house and add it to mine, but I'm afraid I might have to use some things up before it'll fit...
The small bins are organized by color and fabric. That was Anna's idea. She arranged the boxes and then I put them up on the shelf.
I have ribbons and notions here too, and little room to grow, but not much!
Above the cutting/quilting table I have these great racks from The Container Store. The left side is fabric tools, the right side paper tools.
I especially like having my buttons in jars. That seems like an important part of a sewing room.