We have always had a two bedroom. We are a family of 6. The oldest has moved out now but until she did she shared a bedroom with her sister who is 6 years younger than her. Not ideal for a teenager!! The two boys have always slept in our room. Around November we got them a little bunk bed (We were tired of sharing our bed with both of them!!) and it's in our room. They are 5 and 4 now. This arrangement will probably work for a few more years for us. The kids don't keep toys in our room. They have very few to begin with. We keep them all in the family room.
When people say stuff about how many of us there are in such a small space, I just remind them that we are so blessed to have what we do, and that people in most parts of the world live in far smaller spaces with more people!!