I luckily found a double wicker basket so use one side for whites and the other for coloureds. It's great because it saves sorting and finding the odd stray red sock to turn everything pink
I do a weekly whites only wash, and then when the coloureds side is getting full I know it's time to do a load in the machine. My toddler and newborn bits are added from various other baskets in various bedrooms and it makes a full load o varying colours. I usually add a 'colour catcher' sheet in the cycle for safety, rather than separate the light ad dark colours!
I unfortunately have a cheap and rubbish washer-dryer which doesn't wash well and doesn't dry for hours on end. So at the moment I only tumble dry towels because life is too short to be without lovely thick, soft towels!
The rest is hung up on an airer or two downstairs, or if dry I will hang it outside. Depending on the weather and the fabric, it takes from 24-36 hours to fully dry.
When hanging washing out I 'hand-iron' it, which really makes a difference. As a result I get the iron out probably twice a year!
If I am having guests I put the washing away or simply don't wash that day, and do two washes the next day if I need to, to make up for it.