I have a shelf in my closet that I lined with a few sheets so they are all nice and comfy. The one is use has its own little area on my dresser though.
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I bought a couple of these modular thing and store my bags in dust bags. I put these in my bedroom against the wall so it does not take up too much space. These are actually very light (not made out of hard plastics) and easy to assemble. I also have very light canvas drawers in my closet and keep my clutches and small bags there.
http://www.bedbathandbeyond.com/product.asp?order_num=-1&SKU=15164905&RN=1009