I found this folding Leifheit drying rack at my local hardware store and have fallen in love with it over the past few years. It’s versatile, lightweight, holds a ton of damp laundry, and folds down to almost nothing for storage. You could probably slide it into a three inch gap between the dryer and the washing machine.
It also expands sideways to be quite large (close to 4 feet wide). When fully expanded it has 62 feet of drying space (and 32.5 feet when closed). This drying rack is designed to be set up over a bathtub, but you can also set it up nearly flat for drying afghans and large quilts, or for sweaters. In fact, I have a beautiful hand-made quilt drying on it right now! The powder coated metal rods are sturdy, smooth, and rust proof. They will not stain or snag your clothing. I’ve used mine on a weekly basis for two or three years now. It has held up well, and looks like new.