Thats a decent size shop Frank, you just need to organize and utilize space more effectively.
My suggestions, for what they are worth would be:
1) Shop around for some old kitchen cabinets that were removed from someones house when they had new ones installed, then, tear the randomly placed shelves off the right hand wall and hang the cabinets there.
2) Reinstall the shelves vertically at the end of the cabinets if the cabinets dont run the full length of the wall.
3)Toss the cable reel work bench out (round is an inefficient use of space in a square room).
4) Build another full length work bench along the left side. Leave a few spots under the bench open so you can slide the shop vac and other taller stuff under it that wont fit on a shelf or in the cabinet,
5) Get one of the overhead storage racks they make that you can screw to the ceiling along the back wall of the garage to stick your coolers and other stuff that you dont use every day. If you have bicycles in the garage, you can hang them on the ceiling as well so they are out of the way.
Organize what you have and I'm sure you will be surprised at the amount of room you end up with.
Brad
www.andersonknives.ca