Organizing my "chemical" cabinet
As mentioned in the comments, safety is the main priority.  Take particular heed to the warning labels and information on the chemical label - if unsure, look up the chemical details MSDS (or SDS) = (Materials) Safety Data Sheet.

One of the most important thing to do (and is often overlooked) is to keep an inventory of what chemicals you have.  The safety data sheets can be obtained from the manufacturers or by looking up the chemical SDS itself, or from general websites such as MSDS.com - an example is this one for mineral turpentine - these contain considerable information about storage, disposal and first aid.  (It is always a good idea to have this readily available and updated).

Personal protective gear is a must - gloves, safety glasses etc - usually the label or the SDS will have this information.

According to the document NERC Guidance on Safe Storage of Laboratory Chemicals (2010), has information that is pertinent to a workshop environment.  There are 3 main principles in regard to storage of chemicals explained in the document:


Segregation, from the article:



  The key incompatibles to segregate from each other are strong acids from
  strong bases and strong oxidisers from organic or flammable materials. 


The NERC document has a list in its appendix (too long for this reply)


Separation, related to the segregation,



  In a laboratory situation adequate separation can be achieved by means of
  storage cupboards which physically divide incompatible classes of hazardous
  chemicals. The cupboards may need specific properties or provide
  separation by means of distance. They will also need to provide secondary
  containment (eg spill trays or bunded shelves) and security (eg locks / bolted
  to wall). 



Ventilation (from personal experience, this one is often overlooked).



  Ventilation is often an essential requirement for safe storage of hazardous
  chemicals. Its main function is to allow dilution and extraction of vapours or
  gases that may escape / seep out from containers during storage so they no
  longer present problems from the viewpoint of noxious smell, hazardous
  personal exposure or creation of an explosive atmosphere. 


Also consider an appropriate fire extinguisher, note that water is probably the worst one.  Here is an example of a fire extinguisher type guide - this guide suggests that powder based extinguishers may be best (but, make sure you study it and seek advice if unsure).

Some of this may seem 'overkill', but it is better to have some preparedness for if anything goes wrong, than be unpleasantly surprised by it (from personal experience), also, depending on where you are, there could be a legal requirement for a degree of proper storage, handling and protection.