Start with ¾" plywood that is twice as wide as the depth of the cabinet and as long as one side and top/bottom. I crosscut the top and bottom off of one end and set it aside. Then, using a ½" dado stack in my table saw, I cut a series of ¼" deep dadoes across the sides. Make the spacing between them uniform so that the drawers are interchangeable. Finally, rip the sides and top/bottom in half to separate them and assemble the cabinet however you please. If you want to hang it on a wall, attach a French cleat to the back at the top and a batten of equal thickness at the bottom.
The drawers are very simple to make. First, cut the drawer bottoms from ½" plywood. Make them about 1/16" narrower than the distance between the dadoes and full length. Cut strips of solid wood or plywood equal to the inside depth of the drawers you want and cross-cut them to length. I assemble the drawers with glue and nails. Note that to store a 5" tall object, you don’t need a 5"-deep drawer – you just need 5" of headroom.
Plywood and long stock can also be a challenge to store in a shop. When I had an 8' bank of cabinets in my shop, I used to slide my sheet goods in behind it. Now that they are gone, I just stand them up against the wall and use a wedge system to keep them neat and upright. Long, narrow material goes on my lumber rack beside my table saw. I also store dry lumber standing on end in one corner of my bench room.
Cut off a 21-in.-long board for the shelves, rip it in the middle to make two shelves, and cut 45-degree bevels on the two long front edges with a router or table saw. Bevel the ends of the other board, cut dadoes, which are grooves cut into the wood with a router or a table saw with a dado blade, cross- wise (cut a dado on scrap and test-fit the shelves first!) and cut it into four narrower boards, two at 1-3/8 in. wide and two at 4 in.
As your interest in woodworking grows, you’ll want to subscribe to a woodworking magazine. This will help feed your new found obsession with articles on tools, techniques, and woodworking plans. As a print magazine subscriber you’ll also gain access to their database of plans on their websites. Popular magazines include, Woodworkers Journal, Fine Woodworking, and Popular Woodworking.