My husband and I installed a closet organization system (just a cheap one from a hardware store) and it made over our whole bedroom. It was amazing how much stuff we could fit in there once we had a good system going. Cleared up so much room in our bedroom. And it only took us a couple of hours.
My dirty little secret - I keep large plastic storage totes in the bottom of all our closets and that's where I throw clothes or anything we don't want/need anymore until I'm ready to deal with them. I was trying to "set them aside" and then they were just piling up. Now I have one place I throw anything I'm not sure what to do with and it's helped a ton.
We also use dressers were least expected for storage. My husband cut one in half to make it shorter -it's now a bench for the kids to take off their shoes - but still has drawers under it for storage. And we have a vintage dresser beside that I use for scarves/hats/gloves, random items, and crafting items.