This is approximately how it looks in my studio at the moment.
While this was taken a couple of weeks ago, this is still the current setup, though the painting on the easel is different now and so are the objects on the still life table. Setting that table up was the best thing I've done in ages, and has led to all sorts of new paintings.
See that palette table with the nifty wheels on it? It's a microwave cart. $40 at Target, and it works great. I put a thick piece of glass (with rounded edges, of course) on the top for a palette. My paints get stored in the little drawer, and there are hooks on the side for rags and other tools. Practical, sturdy and cheap.