Install a toy hammock across a corner of the room. If your child would like his toys close at hand, place them in a corner near the child's bed. Sling the hammock at a height that is low enough for the child to reach.
Store the toys in a toy cage, or even in a real cage that has never been used or has been well cleaned. Call this cage the "zoo," and tell your child her stuffed animals need to live there when she is not playing with them.
Fix an adhesive hook to the wall, and hang a long cord from it. Attach the stuffed animals to the cord using plastic clips. This keep the stuffed animals accessible and in view, but off the floor.
Install a shelf along the wall. Depending on the number of stuffed animals your child has, this shelf may run the entire length of the wall. This shelf allows the stuffed animals to be arranged in a decorative fashion.