Pine stains well? Really? That isn't my experience. Pine is a very porous, open grain wood with conspicuous pattern - basically that makes for very uneven staining.
If you do decide to stain this rack (personally, I'd paint it), be sure to sand it well and then use a good sanding sealer before staining. Otherwise it's going to be very splotchy and look like 60's fake "wood" paneling.