An exercise machine may include a reciprocating linkage that supports one or more pedals configured to move in a closed loop (e.g., elliptical) path as a user exercises with the machine. The exercise machine may be adjustable to vary a characteristic of the exercise provided by the machine, for example by changing an incline of a rail supporting the reciprocating linkage, and thus an angle of the closed loop path. The exercise machine may vary the incline with a lift mechanism operatively associated with the front upright frame of the machine, which may also support a resistance assembly, all in a compact form factor that may be more aesthetically pleasing and practical for relatively smaller exercise spaces.