Only possible on Pegboard, an interesting visual layout that actually presents the wrenches stepped size- and price-wise. A quick easy improvement would be through use of Straight Entry Hooks. These would allow changes within the crowded sizing display without requiring adjustment of more than the hook in question.
For organizing by color see…
“Naked Tees Dressed Up With Fencing.”
For other hook patterns in merchandising see…
“Patterns in Hooks and Jewelry”
“Wood-on-Wood Peg Hooks”
“Powerwing Sells Belts and Ties”
“Wrenches Fixtured Step-Wise”
“Tight Planogram Design by Matell”
“Hook Stagger Violates Convention”
“Hook Mis-Alignment Increases Sales”
“Erratic Hooks Tighten Display”
“Easter Sunrise Seen Through Pegboard”
“One-of-A-Kind Perfed Metal Pattern”
The most beneficial style of Straight Entry Hook for your specific need is difficult to divine sight unseen. You should research the various one- and two-piece designs.