Some of my favorite photographers (or for that matter, artists in general) are those who are able to tell a compelling story in a single picture. Every year we do a 'narrative photography' unit, and find inspiration from artists like Annie Liebovitz, Cindy Sherman, and Sandy Skoglund. To me, the stories that are only suggested in their photos ask more interesting questions than could be answered in a narrative that has a begining, middle, and end.
However, I always find inspiration unlike any other from Duane Michaels who uses sequence in a way that I haven't really found from any other photographers. This has always struck me as a little odd. Either I'm looking for love in all the wrong places, or not enough photographers are taking cues from Scott McCloud. Happily, I stumbled upon a sequential project at Digital Photography School, which is always a great resource, especially for finding project ideas in their forum. Take a look at how readers responded to their own sequenced photography assignment.