It's a cool concept, especially if you're in a small space and need extra storage. On a more practical level, I think the drawers should only be located on the sides of the stairs so that people aren't blocked from going up and down the stairs when you're trying to find which drawer you put your keys in.
That may cause the stairs themselves to not have as much support unless they're is a railing to indicate where the stairs start and where the drawers end. That way it would look like one cohesive unit while not running the risk of smashing the drawers.
Upper left bottom front facing drawer to the right of the small cabinet in the stairs.
My dumb ass would stub my toe every. Single. Time.
That may cause the stairs themselves to not have as much support unless they're is a railing to indicate where the stairs start and where the drawers end. That way it would look like one cohesive unit while not running the risk of smashing the drawers.