We have a three bin system. They are plastic fencing and landscape timber posts. The center bin is for storing cover materials like leaves, either in bags or just dumped into the bin. The two out side bins are for the actual composting. One bin is active having stuff added it it regularly while the other bin is for aging or curing the previously filled compost bin. My bins are each 5' cubed, you can store alot of leaves in such a space. I often also use my old holly trash cans (what I used to use for my compost bin when I lived in an apartment) for storing or collecting cover materials. The space devoted to compost here is about 15' by 5' and occasionally a couple additional trash cans.

I have space in the back where I just dump them out and rake them into a neat mulch arrangement. I have a fence and there are a row of fir trees so it isnt visible to anyone but me.

I think on the ground is better, as they'll start to break down and make the compost process quicker next year.

A hedge can screen your storage pile. Screening my compost bins, yard tool shed, and a place to store extra bags of leaves are 4 upright Yews.

Leave them in the bags to kill out weeds/grass in the 2 new beds we're setting up. Holding back 4 bags of oak leaves to plant potatoes under. DH scored big time this weekend with 3 pickup loads of bagged leaves. Added some to both compost bins as well. Black gold being made here! LOL

Dumping them out of the bags into an open pile I think is the least conspicuous way to store them on a small lot plus they get the benefit of winter's moisture to begin the decomposing process. The soil under a deep pile of leaves stays unfrozen allowing earthworms and soil biota to keep working.

One year I stacked them like bricks along the backside of the house for insulation. That wasn't pretty :( but it worked some.