For a long time my present wrapping materials were a huge mess. They were spread out everywhere and I never could find what I was looking for. I hate wasted space and so I realized that we could do double duty with a small utility closet that houses our upstairs furnace to create a place for all the wrapping stuff to be in the same place.
I had my husband install a simple wire shelf across the length of the closet and then got to work. I used old wire hangers to hang my gift bags, separating them by boy birthday, girl birthday, Christmas, and general gift bags. This shelf is also where I store the kids' Easter baskets and Halloween bags.
I bought a cheap dollar store tote and put all the tissue paper I have in it. It works well and can go right next to the gift bags.
For my rolls of wrapping paper I have this handy dandy wrapping paper duffel that I bought from Current Catalog ages ago. They don't sell it anymore but they do have this hanging one that I might like even better!
My gift boxes and bows only get used at Christmas time and so I don't keep them too organized. If I used them all the time I'd probably try harder but they are a low priority for the time being and function fine in their current storage receptacles. ;)
Now my utility closet is functional and keeps the kids and I much more organized when trying to wrap a gift! I guess you could say "that's a wrap!"
What space in your home is being underutilized?