The freezer is a separate unit from the refrigerator, used to store bulk items. The average freezer can store up to about 25 cubic feet of storage space.
The upright version can be placed next to the frig and is stacked in a more organized way with shelving that can be accessed quickly. The disadvantage is that opening the upright door allows cold air to escape rapidly and may be less energy efficient for all it's advantages.
The chest freezer will not have the convenience of being in the kitchen and will be more difficult to organize, since bulk items will inevitably be stacked in layers. Although, new versions may have sliding shelves and removable baskets. It is nevertheless an energy saver, since cold air will tend to stay at the bottom when opened from the top. Some models also have an alarm that sounds when the temperature climbs to high. Defrosting occasionally is important in keeping the freezer functioning efficiently and at the best energy cost. A model with a drain plug and outlet is the best choice.