I'm fortunate to have a big walk-in closet in our bedroom. Not the sort of thing you usually find on a house built in 1919, so I'm happy to have it. I've got some shelves at the back, with a few sleeping bags in cotton sacks. Almost everything else is stored inside two packs- LW and UL stuff I use these days in the GG Nimbus Latitude and some of the heavier or winter-oriented stuff in an older GG Stratus Access FZ 4500.
I don't have much clothing dedicated to backpacking, most of it gets general use, but what there is is hanging up on hooks by the shelf.
The Thermarests are stored under the bed, uncompressed and valve open.
All of the car-camping stuff is in a single bin in the basement, so we can stick it in the car and head out for the weekend if we feel like it.