I don't have a dedicated space for my scrap stuff but a nice corner on my DS bedroom. Went to Kmart and got one of those 34" folding table and so far so good. Sturdy hardboard made out of vinyl and for the price, even better (ended up paying $15 because of points on the Kmart rewards). Eventually as my supplies grow even more I know I'm going to have to invest in something bigger and better. As stated above, Craigslist is a great place to look and you can always refinish it. You can make wonders with a little coat of paint and some new and inexpensive hardware.
Here is the one that I got. They also carry it in black for a little more $$: Link