I'm not precisely a SAHM, but I know what you mean. (I homeschool my kids, and help my husband run our business, but I'm at home doing those things, and I know how the day can get away from you!)
Currently, here's what I'm doing and it's working well for me:
6:15am - 7:15am: work out
7:15-7:45: shower, dress, drink coffee
7:45: wake kids up, wonder why I just did that
8:30: kids do their school stuff (handwriting, journaling, stuff that doesn't need to involve me), I pay bills, check today's schedule, clean up the kitchen, start a load of laundry
9:00: kids do harder school stuff, I sit in the school room and help them as needed/ work on whatever small tasks I have (filing, folding laundry, dusting)
12:00: school is over (usually), we eat lunch, kids go out to play
1:00: kids come inside, we all clean the house together (only takes half an hour or so)
1:30: free time for everyone (run errands, grocery shop, walk the dog, etc)
3:30: off to ballet lessons
I should note that I do have cleaning help (every other week, I have my ladies come in and do the things I don't like to do ;), and gardening help (once per week, mow and blow), as well as an intern who comes once per week (technically she does billing for our business, but she will pretty much do whatever I need her to with the kids, too). So... that's why I have free time. Not that I'm so organized, but that I have help, and lots of it. :)