Stacy played at the University of Alabama from 1989–91, after spending two years at Coffeyville Community College in Coffeyville, Kansas. For the Crimson Tide, he was a two-year starter and two-time All-SEC performer.
During his time at Alabama, Stacy rushed for 2,113 yards and 27 touchdowns. He also had 62 receptions for 574 yards for one touchdown.On November 19, 2007, Stacy and his family were involved in a car accident in which six people were killed. Four of Stacy's children were killed in the accident, as well as his wife and the driver of the other car. Though severely injured, Stacy and one daughter survived the wreck. On November 29, 2008, Stacy was the honorary captain of the 2008 Iron Bowl between Alabama and Auburn