My studio sits in the northwest corner of my home. I have a wonderful north light to paint by. I am right handed, and the light shines in from my left side, so I am never in my own shadow. I also have a lampstand with daylight bulbs for painting at night or in stormy weather.
I use an adjustable drafting table for watercolor and acrylic painting. Here you can see my watercolor pallete ready to begin a painting. A side table and tray are used to keep my brushes and water at hand.
I have an upright easel for painting with oils. They take quite a while to dry and this keeps the canvas out of the way, allowing me to use my drafting table at the same time for other paintings or projects.