Maybe a bunk bed would be helpful here? Bed on the top, desk or the craft area below it?

How would you feel about a bed-in-the-wall system? It could free up space during the day for your other needs. And consider a wall of drapery to camouflage the windowless-ness, maybe even bringing the fabric in a foot or so, to have storage behind it. This sounds like a fun challenge!

Combine the bikestorage with a table for studying with a bardesk-type of table and barchair to it. Long and thin along the right wall would be stylish. Opended at the end to just pull your bike into, bike leaning against the wall/table side. You probably have to build this one, but should be fairly easy. Cover the top of table with leather or a glasstop. Can be used as cosy diningnook for when company comes over. As the table is thin then you could have room for that extra sized bed if you want too! I hope you understand and like the idea.

I'd skip the exercise bike -
If you're living in a basement studio, you need to get outside and go to the gym more often for your own well-being.

I'd also reconsider the larger bed - I'd choose a daybed instead and save up for the larger bed for when you have a larger space to reside in.

Turn your bed 90 degrees (to the "North" wall) and set it up as a daybed. Or do the same but with a twin-trundle that you make up as a Full each evening.

Create an El shaped, wallmounted desk/counter in the "Southeast" corner, but make it less deep than the current desk.

Repeat wood tones and keep everything monochromatic with one LARGE colorful piece above the bed, and bring in lots of layers of light (task, ambient, accent) with dimmers or three-way bulbs on everything.

Get a lofted bed (hopefully your ceilings are high enough) and put the desk beneath it. The desk can do double-duty as a craft area as long as you figure out a way to keep your craft supplies organized (perhaps shelving above the desk with boxes for storage). Then you can put the exercise bike in the corner where the desk currently is.

Or put the bike beneath the lofted bed and leave the desk in the corner. That way, you can install shelves that go all the way up to the ceiling.

Yeah this is tough... this looks about the size of my dorm room in college, and there's no way I could fit all of the things you describe into it.

If you loft the bed, which should be possible with a full bed, then you will lose your only "comfy" floor-level seating. However, you could put your desk underneath the bed (and maybe even an armchair), and free up a lot of space in the rest of the room for a sewing area and/or exercise bike.

Depending on your measurements (or ability to buy a new table), you could possibly loft the bed, put a very skinny table and chair at the end of the loft as a desk (outside, not under the bed), and put a small couch or sewing area under the bed for lounging around or working on projects. The more vertical space you use, the less you rely on square footage...

maybe just upgrade to a full sized bed...? They are bigger than a twin but not as big as a queen..

Also, I would put a table/desk for crafts facing the top wall of the pic, and the study desk facing the opposite wall (I think you show a tv in that corner right now). Put the tv up against the wall in between the desks.
Put the bike in the corner below the bed.

Good luck!! i feel your pain on the tiny studio apt :( I had a 265 sq ft apartment before. and I had my queen bed in there!!

this would be alot easier if i knew what...
- bottom left room is (kitchen i assume)
- bottom right room is (bathroom I assume)
- thing under the bed is (radiator i assume)
- size bike will be

On basic assumptions then...
- bike behind bed
- upgrade to double or queen
- put table against north wall into corner and identical against south wall into corner
- TV in middle

Result
pros
- all requirements met
- economical since only shift of furniture
cons
- you can see the bed when you come in through the door
- cramped

I think that you could actually run a desk along the entire length of the wall with wall mounted shelves above that would house your desk and computer, tv, and sewing machine.

Make the bed up as a daybed and put the TV in front of the bed.

As for the exercise bike. You could put it at the foot of the bed (if it fits), but I'm with bepsf, you should probably get out a bit.

i'm not sure if this would be something you're interested in, but this site has an alternative to a murphy bed that folds into a chest (it comes in a full size): http://fu-chest.com/zzz_fu-chest.html. while its not as pricey as a murphy bed its still an investment, though it might be worth it for you.

i also thought of this project for you since it would separate your work and sewing areas: http://www.diylife.com/2008/01/21/get-to-work-with-a-desk-for-two/. you might be able to modify it to fit your needs since you're handy. (something i wish i was.) good luck!

Not sure about measurements, but here goes.

Try the bed up against the north wall, with the head on the west wall. You could probably get a full. Maybe then you could construct an wall-mounted L-shaped desk that takes up the southwest corner and extends to the bed, functioning as craft center/study space depending on the section (CC with suspended shelving on the south wall, studying desk on the west). The end near the bed could be supported by shelves for a proper nightstand/supply storage. Put the TV plus its stand at the end of the bed. The bike can go up against the east wall. Then, you can angle the TV to watch while you bike.

Make that southeast corner. Flip the directions. It's late. :)

As small as this studio looks, have you considered a pull out bed (then you could also have a couch and a bigger bed)? I think it's one of the best solutions. I'd place it on the wall the long part of the bed is on and completely customize the other wall with a desk surface running the length of it with lots of shelves for all your electronics and sewing machine. The bike should fit on one side or the other of the couch though I'd opt to get rid of it for an end table or two that includes drawers for more storage.

The other idea I have is to loft the bed and get a long desk for underneath to combine the sewing and study area. I'd have the head of the bed along the wall that looks like it has a window on it. The bike might fit on the end. Then you could do a chair in one corner and what looks like your TV in the other.

Full bed with long side along top wall, bike tucked in at the end (might need to be pulled out to use). Small shelving unit/ desk combo where TV is now, with TV and computer and craft storage. Dismantlable craft table, made of a wood top or flush hollow core door and some saw horses (UO had some cute pretend saw horses recently, and I think IKEA has a couple versions, or just go for the real thing) that is stored under the bed when not in use.

I used to have an 8x10 basement bedroom, with about 5 foot ceilings, and I found a few little things to be invaluable:

1 - A futon couch/bed. The one I had was a couch by day, but big enough to sleep on alone. I could pull it out to make a full bed if I weren't sleeping alone, even though that only left about 2 feet between the edge of the bed and my desk.

2 - Wall mounted shelves. If your shelves don't take up floor space you'll be a LOT better off. The ones I had were a set of steel strips that screwed to the walls and had brackets that meshed with them to hold up boards. The hardware was free at a university salvage yard, and the boards were dirt cheap at Home Depot.

3 - Shelves, not drawers. In a space that cramped you'll want to keep as much as possible on shelves, because you will easily find drawers becoming cluttered, and living in a small space clutter is a terrible thing. Shelves keep everything right out in the open where you have no choice but to face it and keep it tidy. Mine was so small a single pair of pants on the floor made the whole place feel like a dump.

4 - Light on a timer. I had a big bright light pointed at my bed that was attached to a timer. It turned on every morning at 8:00 and turned off at midnight if I still had it on. Without windows to cue your body about the time your sleep cycles will easily get horribly out of sync with the rest of the world.

Good luck, it's tough living in a cramped basement, but it can certainly be done. When I did it I still had a CRT, and it would feel practically luxurious these days with my LCD.

The key to making it work will be learning how to be exceedingly tidy and organized. Trust me, cleanliness is the only way you'll make it through comfortably.

It is a little difficult to tell what is going on without measurements or labels for the items in the southeast and southwest corners, but I will make some general recommendations and some other recommendations based on possible assumptions.

First of all, I notice that all of your things are as far away from each other as they can get. If you move things closer together, you will find that you have more usable space.

I am assuming that you already own an exercise bike, and that is the think in the southeast corner, but if you don't already have one, I would recommend a regular bike and a small trainer instead. (A trainer will essentially turn a regular bike into an exercise bike) A regular bike can be hung on the wall and take up a much smaller space than an exercise bike, and the trainer can be folded up small in a corner or under the spot where you hang your bike until you take it out and train with it. Then, you can set it up in the middle of your living space or your entrance hallway, but it won't block that space all the time. Plus, you can bike outside with it.

Next, I would recommend building a shallow desk that extends from the end of the wall to the side of the bed and serves both as a desk and as a night stand. Then, put shelving and/or cubbies above the desk all the way to the ceiling. The extra storage spage you gain should give you a spot to tuck your sewing machine and craft supplies away even if your work surface is not much bigger. You would gain a lot of usable floor space. If you would rather have more work surface, make it an L that extends down the east wall.

If the thing in the southeast corner is a TV, then you could orient your bed along the north wall with the head at the east wall, place the TV at the foot and the desk along the east wall extending from the south wall all the way to the bed. I think this would even work with a full bed and it would give you a large amount of space near the window to set up your bike, etc. Of course, it that TV is on top of your dresser, that probably wouldn't work because you wouldn't be able to access your dresser, unless you can fit it along the north wall as well, which seems distinctly possible.

If that's a floor regiser in the southwest corner, you could put a sewing table by the window.

If the ceiling is high enough, one of those loft beds from Ikea would do the trick. http://www.ikea.com/us/en/catalog/products/50019950 Then your sewing area can be underneath it.

Have you thought about one of those in-wall computer stations? If you're going to be doing a majority of your work on a laptop, I'd suggest getting one of those (they look kind of like medicine cabinets, with a few shelves and a fold-down panel to place your computer on). Ikea has some. I'd also, like most everyone else, loft the bed. You can have a more spacious workspace for crafting underneath, without having to combine with your desk space.

Also...LIGHTS! Find as many nice, bright lights as you can. It will make a huge difference in your mood every day.