I started out with those plastic 3 drawer cabinets so that I had a space for each child's diapers and other belongings, but now I have one of the 6 foot tall cabinets like playfelt which has wood grain and 5 shelves and looks a lot nicer in my room.
I have parents bring a backpack daily with extra clothes in it depending on the seasons and bottles or other baby things when they are young. I don't have cubbies but I have hooks on the entrance way hall. My Mom made drawstring bags and extra sunhat/sunglasses or mitts/hats are left here all season long so we can always go outside. I also insist that extra snowpants be left here all winter and splashpants are here all year round. This way we are ready for any weather.
I've reorganized my daycare over and over as I learned what worked better depending on the age groups of the children. You'll figure it out.