When you have egg whites forming stiff peaks, an oven at 400 degrees, and butter melting on the stove, a hunt for kitchen supplies can have catastrophic consequences. The most efficient organizing principle is to group things by activity and keep them stationed around the starring appliance.
Anything that doesn't fall under the main kitchen-activity categories―baking, cooking, serving, and storing―doesn't need to be taking up valuable space. Larger serving dishes and roasting pans should go on low or high shelves in the kitchen or pantry.
If you're really strapped for space, store seldom-used and seasonal items, such as birthday-cake molds and cookie cutters, away from the kitchen entirely. Be sure to label the boxes or storage containers so you know what's stored where.
As for never-used fondue sets, chafing dishes, bread and ice-cream makers, snow-cone machines, and creme brulee torches, share the wealth at your next tag sale.