In this paper, we investigate the spectral efficiency (SE) of massive multiple-input multiple-output (MIMO) systems with a large number of antennas at the base station (BS) accounting for physical space constraints. In contrast to the vast body of related literature, which considers fixed inter-element spacing, we elaborate on a practical topology in which an increase in the number of antennas in a fixed total space induces an inversely proportional decrease in the inter-antenna distance. For this scenario, we derive exact and approximate expressions, as well as simplified upper/lower bounds, for the SE of maximum-ratio combining (MRC), zero-forcing (ZF) and minimum mean-squared error receivers (MMSE) receivers. In particular, our analysis shows that the MRC receiver is non-optimal for space-constrained massive MIMO topologies. On the other hand, ZF and MMSE receivers can still deliver an increasing SE as the number of BS antennas grows large. Numerical results corroborate our analysis and show the effect of the number of antennas, the number of users, and the total antenna array space on the sum SE performance.