Apartment Therapy has posted before about converting an old ironing board cupboard into a spice rack. But we were drawn to the concept of the "stay bars" used for this particular example, from a how-to post we found on Instructables... While this example may not be the sexiest design, the gist is functional and smart. It's also better suited to visual people who like to see their cooking materials instead of hiding them behind a cabinet door. (Some of you will probably get worked up about shielding spices from the light of day but we carry on...) To add some panache to this open style design, you could paint the recessed part a different color than the shelves, stay bars, and overall molded frame of the ironing board cabinet. If you painted the recessed part a couple shades lighter than the rest of the piece, it might create the illusion of more depth to the shelves. We might also use slimmer materials for the shelves and stay bars, like plywood, to give it a less chunky appearance.
For step by step instructions, including photos, head over to Instructables.