The holidays are certainly the perfect time to get organized, and when all of your supplies are in order, wrapping is fun, not a chore. Most important is that your wrapping supplies all be kept together, close to the place where you like to do your gift wrapping, whether that's the kitchen table, family-room floor, or a spacious workshop.
Martha's favorite containers for everything except the paper are shoebox-size stackable plastic or metal bins; they are ideal for scissors and pinking shears, tape, hole punches, labels, cards, rubber stamps, embossers, pens, and cellophane bags. Divide the supplies into categories and label the bins accordingly. If you prefer, you can devote a small chest of drawers to your supplies, or, if you don't have a lot of items, use a sturdy tool chest with dividers or drawers -- this has the advantage of being portable.
Wrapping paper is a bit more of a challenge. In Martha's crafts room, flat files -- huge, shallow drawers made just to store papers that can't be folded, such as drawing paper, architectural blueprints, and other documents -- keep most of her wrapping paper. One could stack the file cabinets so they reach waist-height, making the top a wonderful work surface. You'll find flat files at art-supply stores, and beautiful vintage wooden ones from old offices turn up at flea markets and antiques shops.
Rolls of paper can be kept in a drawer if you have one wide enough; otherwise, stand them up in a narrow box or high-sided wastebasket, and stash them in a closet.
After the holidays this year, don't forget to take advantage of the sales on wrapping supplies -- stock up on exquisite papers and ribbons.