A bunch of kallax or billy bookcases from ikea. Line a wall with them. Some fabric storage cubes -- target has decent quality that aren't too spendy. Hang a giant curtain in front of the whole thing and you have a decently cheap diy closet.
Desk for your sewing machine with drawers in it to keep notions, etc; cork board above this for pinning ideas.
Another table to fit your die cutter.
Nice big hobby table like this for the center of the room; you can fold it up if you want to move the clutter:
http://www.hayneedle.com/product/sullivanshomehobbytable.cfm?redirect=false&source=pla&kwid=Sewing_SUA002&tid=SUA002-1&adtype=pla&kw=&ci_src=17588969&ci_sku=SUA002-1&gclid=Cj0KEQiA8MSkBRCP5LaRlcOAusMBEiQAiqldkt5YqneOEoKW0u7F5YJlUnF89fS0svSf9rsibdzyTXQaAtmh8P8HAQ
(If you can get a table like that that's *higher* that would def. be a bonus. If you are going to be cutting fabric, you want to be standing up.)