When I set up mine, I began with just a basic bench and some decent lights. Having my own space made me tinker more often and learn a ton more, what did you start with?
A quality table saw with a really good fence is the key part of a good shop
Put your $$ there, get OK bandsaw, drill press, bench sanders... upgrade them over time. (buy better used stuff, American made if possible, avoid Home Depot Chinese trash at all costs)
You can do it in a small space.
There are two vintage benchtop drill presses in the back right corner, the table in the middle is a full size Rockwell lathe, the bandsaw on the bench is mounted on the end of it to save bench space.
My Unisaw is on locking wheels and can be spun around to the front of the garage or even outside if I'm playing with full sheets of something
The classic 20lbs of in a 5lb bag, but it works for me