One way to be flexible with the table/floorspace tradeoff might be with small, cheap banquet tables, so that you can move them or get them out of the garage when you need more floor. They can actually become quite sturdy if necessary if you put a very thick piece of particle board over them. But really, most of my table space is only used to spread out tools and parts and not much more.
I did much of my building on a 10' banquet table with a 2" solid particle board/plastic laminate door on top. Worked pretty well. I also had two 4' EAA-style benches for power tools and heavy work. In retrospect, another small table would have been useful.
Also try to get some sort of work surface over your compressor (unless it's an upright?) to utilize that wall space. Even if it's just a flimsy table, or a sound-insulating contraption of insulation board like I have, at least you can put tools and plans on it.
Paul