I am always excited about vertical storage solutions. Making one myself from thrifted supplies, even better. The project came about after finding these metal wall file things at a thrift store this summer and seeing something similar in Urban Outfitters apartment catalog.
First I sanded down my wood and file hangers. Then I primed the wood. I would've primed the hangers as well but I was using a leftover can and didn't have enough. Then I spaced the hangers evenly leaving more room at the bottom than the top to keep it top heavy (for leaning) and marked where I wanted to drill my holes.
Next, I set aside my hangers, drilled my holes (not quite all the way through since I was using short screws), and attached my hangers. Then I set it on top of a cardboard box and spray painted three thin layers. Allow for drying time in between layers. I also had to get at funny angles to paint the inside of the hangers but it was important to cover all the surfaces. I later added two thin coats of high gloss polyurethane to give it a metallic look all over. You can still tell it's wood and metal but not as easily.
This is a project that may not be easily recreatable with these same elements as I thrifted the metal file holders and don't know where to find similar ones but there may be some other options available at office supply stores. These magazine racks from IKEA may be an option if you stacked two on the same piece of wood. Here's another DIY idea to try.
The moral of the story is to keep yourself open to the potential of things when you're hunting through garage sales, thrift stores, and flea markets. You may even find ways to repurpose something you already own.