Wow! Great feedback so far.
To answer a few questions:
Yes, I did suggest moving the washer/dryer to the basement and taking over the tiny laundry room as a pantry. DH is intrigued, but we know this will be costly because we don't have the electric/gas/water hook ups in the basement. This could be a more long term solution though in the future.
We don't have any space in the garage. With kids stuff, 2 large cars, a lawn tractor, snow blower, wheel barrel, etc there's simply no wall space. We will eventually get a shed, but it isn't in the budget now. Also being in the northeast I'm not sure I'd want to store food outside with such large temp fluctuations.
We do have a basement with shelving that we store food on. So the pantry doesn't have to be large, but needs to be big enough for the currently used stuff...pasta, rice, bread, canned goods (1 of each), cookies, chips, cereal, baking stuff, crackers, etc.
I'm not opposed to a pot rack...I'll have to look into it. We do have a very large (almost too large) round florescent light right above that island so I'd have to figure out how to do the pot rack around the light.
On either side of the fridge is a lower cabinet, counter space, and upper cabinet. I'd love to turn one side into a floor to ceiling pantry but then we'd lose a square of counter space...and that creates another problem LOL. But maybe replacing that cabinet is cheaper than moving the laundry...hmmm...
Mom to two amazing DDs ('07 & '09) and a fur baby.
Gluten free since Nov '11 after non-celiac gluten sensitive diagnosis. Have had great improvement or total elimination of: migraines, bloating/distention, heartburn, cystic acne, canker sores, bleeding gums, eczema on elbows, dry skin and scalp, muscle cramps, PMS, hair loss, heart palpitations, fatigue. I'm amazed.