My favorite simple stand is to get a bar stool from your local Wal-Mart equivalent with a round wood top. Regular chair height works too, it depends how high you want the machine. My favorite one even folds up for storage. Remove the wood top (usually it's screwed on to the metal legs) and cut a hemisphere out of the top (best to mark it before you remove it, so you can be sure the legs won't hit the open spot when you put it back on). Re-attach the top. The sock machine will slot into the half-moon you cut out and be near the center of the stool for balance.
On my more cranky machines (haha) I keep a foot on the stool's cross-bar if they try to walk away with the stool when I'm cranking.