Storing Clothes in a Damp Basement

Unless you use spacebags I wouldn't do it. Personally I wouldn't do it anyway. If you get spacebags you might be able to find room upstairs.

Space bags are perfect just make sure your garments are ironed and completely dry and use a used dryer sheet (but not over done) especially when storing in a damp basement and in a spacebag.

Have you tried using those storage bags that you remove the air with a vacuum cleaner? I believe they are called Space Bags. You can pack lots of clothes, blankets, winter coats and such in these bags, remove the air, and they get flat as a pancake! So you can store many many items, in a small space. These bags are waterproof too. If you placed a dryer sheet in each bag, the clothes would smell nice.

A large plastic container with a good cover on it should work.

You could try Space Bags. The company says they are airtight and waterproof as well as reusable.