Extremely practical for a small apartment or 1br cottage.
Not so much for a family home.

What if you already had a large laundry room and this would be the 2 nd laundry area ?

Then it's a foolish waste of money, IMO

My parents each have their own walk-in master closets, mom's being much larger. She has a stackable unit in her closet and loves it. There is also a larger laundry room on the 2nd floor of the home that services the 4 bedrms on that level (master is on main). She uses that laundry room for doing all the sheets and towels for the guest bedrms and attached baths, and we kids use it when we come home to visit. Smaller machine for just 2 people's laundry, larger for towels/sheets and she doesn't have to cart stuff up and down stairs. Works out well.

Thanks Kelly! That is exactly our situation and we just made the decision to go ahead with it. It makes me feel good that someone else has found it practical as well.