Dyson makes good vacs; they stand up in the closet, though they're bulkier than a stick vac. But they'll also give you many more options
I love my little Riccar canister--wow, is it strong! It tucks into a corner of the closet, but of course it's bigger than a broom style. Still, it's not THAT huge. When I got it a few years ago, it was only $350, but I think they're a lot more now.
If you want something that really cleans, you need to pay some money for it. Minimum $250, to $350. You can of course spend more, but it may not be necessary.
If you have carpets, this extra power, plus a decent beater head is important--a broom, no matter how well made is not going to cut it.
And if one of you spends the money, that person can take the vac with them and will have it for 10 years or so. Take a deep breath, and start saving up.
believe me, it'll be worth it! You use this tool weekly (I hope); get a good one.
(you might also ask over at Appliances, or at Cleaning; there are Hoovers & Eurekas that aren't bad, though don't rely on the name alone, they make low-end machines as well as good ones)