The glasses you choose for your bar are a reflection of how you use and your needs. There are many types of glasses available to build a bar to match your tastes.
Highball Glass
You can use these for mixing almost any drink. A good stand-in for similar looking glasses.
Old Fashioned Glass / Lowball / Rocks
For shots of alcohol over ice primarily, also for smaller drinks like singles and doubles.
Red Wine Glass
Use for red or white wine (if you don't have a white wine glass), or water.
Shot Glass
Shot Glasses are for a single shot drink. Might buy a few extra of these, they tend to break and get lost.
Beer Mug
For beer or beer-shot combinations.
Beer Pilsner
This is traditionally for beer, but works well for serving large margaritas and the like.
Brandy Snifter
Brandy Snifter is for serving brandies.
Champagne Flute
The best way to serve champagne. The bowls allow the fizziness to escape too quickly. Nothing worse than flat champagne.
Cocktail Glass
You can use this for serving many different cocktails. In a pinch, you can also use it for serving martinis, but you should really get true martini glasses (no picture available).
Collins Glass
For drinks that require something a bit larger than an old fashioned glass. These look good when frosted before serving.
Cordial Glass
Generally for concentrated liqueurs.
Irish Coffee Glass
This makes almost any coffee or other hot drink look good. Generally garnish with whipped cream and chocolate shavings or cinnamon.
Parfait Glass
Similar to the Irish coffee glass, is generally used for drinks with ice cream or fruit in them.
Pousse Cafe Glass
Usually used for layered drinks.
Sherry Glass
Sherry Glass are used to serve sherries.
Sour Glass
Sour Glass are used for sours.
White Wine Glass
A bit smaller than red wine glasses with a slightly different shape to the bowl.
Source: Mark Miller's Bar Man and www.barnonedrinks.com