There is a documentary, available on DVD via Netflix, called Muscle Shoals that talks about that famous studio's famously tiny drum room. You'd enjoy it, I think.
At the time, the philosophy was to close mic everything and keep it super dry. Quite different from more recent techniques and dedicated drum rooms with high ceilings, reflective surfaces and microphones ten feet in the air. But a lot of great classics were recorded that way (e.g. Bob Seger's Old Time Rock and Roll, the drums sound pretty good in that one) and those lessons are relevant to today's bedroom producers.
As with acoustical instruments in general, including vocals, it basically boils down to: if you don't have a great room, take the room out of the equation. Then you can drag a great drum room into your space through the magic of IRs and convolution.
The only quibble I have with Hugh and Paul's advice is the packing blankets trick. In my experience, packing blankets don't do squat - other than creating the
illusion that you're doing something proactive.