It should be stored in a cool place on its side so as to keep the cork moist. Of course, if the bottle has a screw top, that position is completely unnecessary.
Cool, dark place, out of direct sunlight.
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Wine racks can hold one bottle of wine to many bottles. Depending on the size of space you have to offer. You will also want a climate controlled enviroment, to keep the bottles from freezing or overheating, as this can affect the flavor of the wine.
They 'can' - but it recommended that the bottle be stored in such a way that the cork is kept moist. Lying it on its side is the best way of doing this.
It's best for the wine bottles to be laying flat. This keeps the corks wet and helps the wine to age properly.
If it is sealed with a cork it should be stored on its side to keep the cork moist. If it is sealed by a better or more secure method such as a screw top, it can be stored in any position.