Build walls around the mechanical systems to create a separate room that houses the parts. Include a door in one of the walls for easy access. Make the room large enough for repairmen to access if the need arises. Paint the exterior walls to match the surrounding basement. Decorate the walls with pictures or shelves for a homey feel.
Create curtain walls around the mechanical systems for a low-cost alternative to solid walls. Mount curtain wire between two existing walls near the components. Attach floor-to-ceiling curtains to the wire. They can easily slide open if access is required.
Hide smaller mechanical system components such as control panels, electrical boxes or switches by covering them. Place a folding screen, so it extends slightly outward from the wall, covering the area. Hang a picture that's larger than the area of a component that lies flush with the wall. Attach a piece of decorative fabric over the area.
Conceal larger mechanical system components such as pipes that go across the basement ceiling by covering them in a faux beam. Faux beams look like solid material on the outside but are hollow to fit over the pipe. For pipes that come out of the floor, build a column around it that extends from the floor to ceiling.