Garage Corner Shelves. Use scrap plywood or oriented strand board to make shelves that fit snugly between the corner studs and support them with 1x1 cleats. These corner shelves are perfect for storing smaller items such as glues, oils, waxes and polishes, which get lost on larger shelves.
Oh! This would be like the in-laws' suite. Have the entire back wall be something like this, in regular acoustic cork. If it's too dark-looking, then cover it in more cork, especially a pale shimmery 'wallpaper' version.