You've gotten tons of great ideas--it's totally doable, but I've found there *must* be a place for everything. We lived 7 years in 550 sq. feet (and part of that was a long narrow, totally awkward hallway). We have a little bit more space now, but not much, and it's still a 1-bedroom for 3 of us. Some things we do to make it work:
* Everything goes on the wall. Ikea hanging trash cans (to make room, eg, for the cat dishes underneath), pot racks, floor-to-ceiling bookcases. This goes for the bathroom, too. For instance, we've used the Bygel
rods with hanging baskets
for all our smaller toiletries in the bathroom. At Ikea, right next to these, they also have plastic hanging tubs that fit perfectly next to a hanging basket on that rod. We also use pot lid racks
on the wall to hold mail, in the front hallway, and to hold bills, next to the desk. We have a long coat rack with pegs for outerwear, and in our old place we had a skinny shoe rack under that. We keep hats/mittens/scarves in wire bins that mount right on the wall next to the coat rack.
* Loft the bed(s) and store stuff underneath that you don't need to get to often (decorations, camping stuff, etc). Make sure it's all in bins with lids, because it can get dusty. You can get those plastic risers that are really affordable, or you can do bunk beds.
* Use the space all the way up to the ceiling. It's amazing what you can fit on a shelf, or in a bin, high up on a shelf. Likewise, sometimes closets only have a hanging rack and a shelf above it--a great place to put in another shelf above.
* Make sure the stuff you need often is easily accessible. Eg, at our old place the vacuum cleaner was buried in a closet and (surprise surprise) never got used. This also means that you need a dedicated space for everything--so for us, we had to find a space for our work bags, which otherwise lived in the middle of the (tiny!) living room floor.
* Use the bedroom only for sleeping. That was our solution, at any rate. We figure we'd rather have less space in the bedroom and more living space. One thing we've done that works really well is use ceiling-mounted curtains to make a visual divide between our space and ds's space. I can't find the direct link right now, but the Ikea Kvartal curtain rod (which you can mount to the ceiling) comes in straight lengths and curves, and we put one up so the curtain curves around ds's bed. During the day, we push it back so it's no in the way.
* Use mirrors in narrow spaces so you don't feel claustrophobic.
* Make sure you have a sturdy kitchen/dining table that can serve many functions. I sew, and keep all my sewing stuff in stacking clear bins that I take out or put away. Ditto with ds's art supplies.
* Bins on bookshelves (or doors or curtains on the front) make things feel less cluttered.
Best of luck with it!