Did somebody mention my garage?
I think emptyo is familiar with it, but for others there are some ideas about making a lot out of a little (including tool storage, parts storage and so on) if you go through the 'tour' at
The 12-Gauge Garage
I keep duplicates of my track-day tool sets, since it's a pain to go through too long a list every time you go out.
The essential thing, especially with a small space, is to look at the particular way that you work and then fit the design to that. (Oh, and don't use the floor for storage.)