I would say: it depends. We have a very small lot, a large garage or garden shed is impossible, so a basement is a must.
The laundry room and sauna are on the second floor because I don't want to carry dirty laundry to the basement first, then take it outside to dry on the first floor, go downstairs again to iron it, and finally go back upstairs again. I'm not a fan of house plans that sort of have a gym planned in them.
We have storage, appliances, a workshop and a guest room/office in the basement. The workshop and daylight guest room because of the slight slope. I wouldn't want to do without storage space, we need it! Just because of all the stuff for our various mountain sports hobbies, it still increases.
Like I said, we had no other option on our property, but I could imagine doing without a cellar if I had the option of getting storage elsewhere.