Masking tape seems like a temporary fix that will just frustrate you later. The adhesive gives out and the labels get dirty fast. A cheap metal rack with labeled spots saves more time in the long run.
Totally agree the metal rack is the move. You can actually SEE everything at once instead of digging through a drawer. Plus you can move the whole setup if your work area changes. Honestly the tape thing feels like a trap you set for your future self.