We've featured a few ways to repurpose materials into speaker stands, but if you're looking for something a bit cleaner, DIY weblog IKEA Hacker shows us how to build a cable-hiding stand out of just a small shelf and a table leg.
You'll only need to buy two different pieces from IKEA for this mod: one Vika Curry table leg for each speaker ($7 each) and one Ekby solid wood shelf for the base per two or three speakers ($25 each). Also, unless you've got a stash of rods, nuts and washers in the basement, you might need to take a trip to the hardware store for some of the miscellaneous building materials.
You'll need to do a bit of work on the table leg, removing the bolt welded inside and drilling a hole in the side for easy cable routing through the hollow leg itself. The shelf also needs to be cut down to a smaller, square size to act as the stand, but after that it's just a matter of screwing it all together. It probably isn't the most stable mod if you have especially loud and thundering speakers, but for smaller speakers reserved for quiet dinner parties and the like, they're a cheap, chic way to get your speakers closer to ear level. Hit the link for more details.