This would not only be awesome in a laundry room, but you could put hooks on it to hang pans OR you could hang hangers directly on it if you don't have a closet or put in a garage for winter coat storage, just cover them with garbage bags before. You could put a board on top and use for other storage, need the ladder? empty it and use it!
Also on these boards
DIY Laundry Room Drying Rack by centsationalgirl: Folds flush when not in use.