Pegboard Shelves store a lot of tools with only two pegs. Bend the pegs to about 85 degrees. Use 1 x 3 boards for shelves, customize slots for tools, drill peg holes from end, hammer pegs in, make sure they fit tightly.
Go Hookless: Clip the tips from No. 6 hollow wall anchors, drive them into pegboard, then secure your tool holder by driving screws into the anchors. Short lag bolts fit snugly in the holes to create additional hangers for lightweight objects.