Look at this perfect tool rack organization. It was made from new wood in the link where we found it, but could easily be made out of pallets or with Rust-Oleum wood stain!
Use this simple workbench plan to build a sturdy, tough workbench that'll last for decades. It has drawers and shelves for tool storage. It's inexpensive. And even a novice can build it in one day. Get your simple workbench plans at http://www.familyhandyman.com/DIY-Projects/Woodworking/Workbenches/simple-workbench-plans