I dump most of it in a huge container/box in my sort of walk in (but tiny) wardrobe... There's no other space in my room to put stuff.
And those I use more often are erm, on top of that box, but its only about 3 or 4? You know my Samanthas.... =)

I used to hang them up on those clothes hook thing on my wall at my old place, it sure clears the space off the floor but those bags you don't use end up becoming dusty....