It just depends who you ask. So, this isn't the prettiest room in our house but it serves its purpose.
This is the wall opposite the popcorn machine/microwave/mini-fridge wall. (I know. You can be jealous of our klassiness.) Tim made the built in bookcase and I convinced him to leave a shelf empty for some sewing supplies. It's handy to have it there when I'm working on ironing board. The steamer is there too, but we plan to move it to the other side of the room since the steam isn't great for the books. My iron's steam function is broken, so that isn't an issue. I typically cut patterns out on the floor, so I just leave the cutting mat under the ironing board.
This armoire(that matches Tillie's nightstand) holds all my fabric. It's some-what sorted by color and not very neatly. The top holds all the cotton wovens and the bottom drawer has knits and plain white bodysuits. The middle drawer is random things I use when sewing, like freezer paper.
We got this table at an antique store shortly after we got married. I love it. It's usually filled with spools of thread, fabric pieces, scissors and pins. I cleaned it for you. Now it has just my sewing machine(really my mom's, it was my Grandma's) and my serger(actually mine!). Thread storage is on the counter next to the popcorn machine(obviously).
My mom got me this storage unit for all the random things that pile up in a sewing room. It's great for patterns, ricrac, glue gun, needles, buttons, etc. The party hats are actually a sewing supply. I cover them for my kids 1st birthdays.
The kids play down here nicely when I need to sew or fold laundry. It works out well for us, even if Tim thinks it's too cold down here.