How nice! I have a wrapping area in my laundry/craft area, but it's far from picture-worthy. I have a drafting table and containers for all my wrap, ribbon, and bags.

For your room, I think a large dresser with drawers long enough for wrapping paper would work well. You could keep scissors etc in the top drawers, and the rest of your supplies in the lower drawers. A drop-leaf table is great for wrapping, so you can just pull up a side when you need a larger surface.

Here are a few pictures I have saved for my fantasy life :-)

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i have a secretary and used to keep some wrapping paper in that- the drawers are long enough for average sized rolls of paper, but not the long ones. the drawers and cubbies in the pull down desk area kept scissors and tape, etc.

i love the idea of putting a storage area for wrapping supplies in the laundry room- so that the folding table/s could be used for wrapping too! i'm filing that idea away for the future!

Michael's has a big sale on storage items that could work in your room Running.
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My dream! When I wrap, I like to do it in a wide open space so I use my island as I don't have a dedicated room. I wouldn't like to be bumping against a wall. I do keep my bows, ribbons, bags & tags in storage bins (one for Christmas, one for birthday and other occasions) & rolls of paper in a long storage bin. My Christmas paper is in a box in the attic. So these islands from C&B may look too 'kitchen-ey' for your room, but I'd like the option of rolling out a cart of some sort, especially for large packages. (These kitchen islands come in other colors)

I also have a pair of electric scissors so having a place for re-charging those would be a must for me.

http://www.crateandbarrel.com/belmont-black-kitchen-island/s152245

http://www.crateandbarrel.com/sheridan-white-kitchen-island/s668010

Martha always has opinions - here's just one of them....

http://www.marthastewart.com/1128480/wrapping-paper-storage-ideas

Plus her name is on a line of furniture designed for storing paper etc. - at Home Depot.

I use a tall kitchen garbage can (plastic) to store my rolls. When the container filled up I decided I did not need to buy any more, no matter how beautiful or cheap. I love gift wrapping and they seem to be pleasing, even when I use same rolls with diff bows/embellishments. But my recipients, a male dominated bunch, couldn't care less about how I wrap. Martha Stewart et al made gift wrapping important when what really counts is thought? Right? Not knocking prettiness, just inferring it doesn't hv to be a deal breaker or do or die issue.

In my last house, I had one of the closet companies build out the closet in one bedroom to turn it into a home office/craft room. One of the components I requested was a deep drawer long enough to hold my rolls of gift paper. By laying the rolls flat rather than standing them on end, I had less wrinkling and crushing of the ends.

I tried putting the ribbon on a horizontal bar like you see in pictures, but found that didn't work well for me when I was wrapping. Instead, I stored ribbon in wire drawers in the closet. My work table was on wheels so I could put it against the wall or pull it out into the middle of the room.

Container Store's Elfa system might work for you in a closet or on a wall and it's on sale right now. They have designers and installers to help.

Wow!

Thanks for all the great ideas and resources! As with many projects, I think I need to think more about this. Right now Christmas wrapping paper is stored in a plastic upright bin, and holiday ribbon, labels, tape and sharpies are in one of those stackable set of small bins that latch together. Holiday gift bags, boxes, envelopes, and miscellaneous supplies like gift card boxes are in a separate bin. Holiday bows in their own box. All that is stored in my loft , each box numbered according to my master list of holiday supplies, taken down each holiday season and returned after the holidays are over for another year of storage.

Birthday and general wrapping paper consists of a few rolls that are stacked/shoved into a corner of my bedroom closet. I've got birthday/general bows, boxes, bags, etc. stored in an under bed bin in the same room.

Since I am the last woman in America still sending holiday cards ;), those are stored right now in a drawer of my filing cabinet in our home office. Random birthday, sympathy, get well etc. card are in an accordion folder stuck in a corner of the same drawer.

Tape and scissors are in various drawers in my kitchen and home office.

need to give some thought to how and what exactly I want to organize in this new space. Hadn't really considered whether paper should be displayed on dowels or tucked into drawers, or whether a hutch and a flat table are a good combination etc. Had no idea Home Depot carried a Martha Stewart gift wrap storage line. Thinking maybe IKEA would be a resource since they seem to have a lot of modular storage type pieces.

So this will be a fun mental puzzle with a decorating slant--hurray!

Home Decorators also sells some of Martha's furniture for storage and crafts.

http://www.homedecorators.com/storage-and-organization/

I found this idea awhile ago, the website would no longer come up, but thought I'd share the picture as it's a neat idea.

I have an ancient six-drawer chest of drawers in an unused closet. The drawers are wide enough for all but the longest rolls. One drawer has flat folded paper, two drawers have gift bags and small boxes. The top layer is actually two small drawers, they house bows and gift tags and such.

As an aside, any ideas what to do with dozens of gift bags? Most are Christmas themed. We do very little gift giving any more, and we always end up with a couple new ones. I am over run! Wondering if Toys for Tots or some organization could use them next season?