I have a small galley style kitchen. For years, I have struggled with how to store my frying pans. I have several different styles of cast iron pans as well as a stainless steel wok and a nonstick pan. I used to store most of them in the drawer under my stove, but our newer stove doesn't allow as much storage room. This is our solution.
We hung them all on the back wall of my kitchen, making sure that they were not blocking the refrigerator door. My husband used large penny nails directly on the wall studs, as cast iron is very heavy. We meant to replace the nails with hooks, but we never have found the right hardware.
The wall looks relatively attractive and it is very convenient. It also encourages us to use the cast iron more often and put it away promptly, which is great for the patina.
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I like my pots and pans hanging so they aren't banging around, but I don't like looking at them. I also have a low budget. So I placed large cup hooks inside my cabinets.