Some will say that the 'wet pail' is a valid method but in our experience, the 'dry pail' method is all you need while being the most convenient and least messy. With the advantage of today's efficient washing machines and a great variety of diaper-safe detergents, there really is no reason to wet soak your diapers before washing them.* All you need is a pail (with a lid!), and we suggest you go to a place that stocks many shapes of Rubbermaid containers and find the one that fits your space best. Then you buy a waterproof pail liner and you're off!
You can also help mitigate odours by taping a charcoal odour-remover to the inside of the lid; throw in a rag with a couple of drops of Tea Tree oil on it (helps with the "ammonia" smell); sprinkle a 1/4 cup of baking soda in the bottom. When it's wash time, simply take the pail liner out of the pail and dump all your diapers into the washing machine and don't forget to toss in the liner too.
Cloth Diaper Month ends in 12 days! It's not too late to take advantage of some great deals.
* There are some cases where someone with an energy-efficient front-loading machine may need to do a pail soak from time to time.