I just use an Autohotkey script for that, but yeah this should be in the game.
Yeah, I wrote an AHK script a few weeks ago that does this amongst a lot of other cool features (diablo belt, 1-click item moving, 1-button item hotkeying, click and dragging for item moving). It's not fully compatible with all resolutions, but since I'll be playing more Minecraft starting tomorrow I'll finish up the resolution patch. I already have a fix for it.
The above script will auto-craft 64 items then move it to your inventory in one button press (numpad+, configurable).