Number one story lifting high spirits (7)
I believe the answer is:
elation
'high spirits' is the definition.
(synonyms)
'number one story lifting' is the wordplay.
'number one' becomes 'no i' (resembles No 1).
'story' becomes 'tale' (synonyms).
'lifting' says the letters should be written backwards.
'noi'+'tale'='noitale'
'noitale' back-to-front is 'ELATION'.
(Other definitions for elation that I've seen before include "Exaltation" , "Euphoria of toenail" , "Feeling of joy from toenail" , "'High spirits, exhilaration (7)'" , "exhibits successful pride" .)