There are a couple standard household items where their never seems to be a reasonably attractive option. Tissue boxes are a big one; there, it's always about choosing the least of the evils. I'd also throw paper towel roll holders in that category. Head into any big box or discount store, and you'll be hard pressed to find anything that matches a style other than “I buy all my home decor items at big box discount stores.”
So, in that case: you should make one instead. It might seem a little overboard, but, truthfully, its the little details like this that really contribute to a space's overall sense of style.
This tutorial comes from the team at MarthaStewart.com, and it uses some pre-cut leather straps and a 1″ dowel rod. Loops are riveted to hold the dowel, then attached to the wall. The slack in the leather allows the paper towels to move relative to the thickness of the roll, so it'll always rest against the wall. Pretty clever.
Get the simple, but classy, tutorial: Leather Paper Towel Holder [MarthaStewart.com]