I have a 10 drawer rolling cart that is 15" x 15" and 39 inches tall. I separated each size of needles into gallon size ziplock bags - DPN, circulars, interchangeables, etc - and marked the size on the bag, then put them in a drawer. When I need needles I just grab the ziplock bag with that size on it and get out what I need. One drawer I have tape measures, stitch markers, etc. The bottom drawer I keep books and patterns. I can keep more than one size in a drawer because they are in the ziplock bags.
I just did this recently and so far it is working very well for me!! The trick is to put them back in the right ziplock bag when you're through using them!!
I agree with others that you should sort out what you will use and donate the rest.
OTN - afghan for DH (undid it for the 3rd time and started another pattern), baby sweater, hooded sweater jacket for me!!