First up is the solution shown above - It is Elfa's Medium Mesh Laundry sorter ($129), pressed into service to hold cans, glass and paper. As the piece mentions, it "complements contemporary interiors nicely" and is conservative (and realistic) in limiting how much recycling you want to deal with at once - a big bin may not be necessary or convenient in the long run. The Elfa sorter is compact and pretty much hides in plain sight, not looking a bit like a big ole trash bin.
The second good (and inexpensive - it's an easy DIY) small space solution is to hang recycling bags (aka laundry bags) from simple hooks. Its up off the floor, taking up wall space instead of valuable floor space and making it easy to tote your recycling to wherever it needs to go when it leaves your kitchen. The bags can be thrown in the wash when they need it.
Check out the entire article at Popular Mechanics for more info and other ideas.
Images: Photo by Jeffrey Westbrook/Studio D, Illustration by Iconwerk, both via Popular Mechanics