I actually keep mine in the pantry a little ways away.

It can be wherever you'll use it most. Do you season when you prep or when you cook?

It makes more sense for the spice rack to be close to the stove, it's just easier even if you want to add a pinch of salt & pepper while cooking, or at least have the spice rack between the sink and the stove as most people prep food in this general area.

There really is no rule, it's your kitchen. Configure it however it works best for you. I personally think it is best by the stove, because that really is where you use spices the majority of the time. There are so many ways to store spices, even cute little racks
They don't always have to be built in to cabinetry. Hope that helps. Charmean Neithart