Source: Cooking Light
"Keep spices in a dark cabinet or drawer-- not in the open in a spice rack or near the stove-- because heat, light, and moisture degrade flavors."
I actually moved my spices from an open rack by the stove to a drawer before I came across this info, mainly so I didn't have to transfer spices to the containers found in my spice rack. I recently gave my old spice rack to my daughters, and now they use it outside and fill the containers with sand & stones. They love to play restaurant with their pretend spices!