I've never tried uFmod personally. The replayer is probably a tiny bit smaller due to it being ASM rather than C.
uFmod is not only the smaller library, it also converts modules to a minimal and more compressor friendly format.
Although uFmod was originally based on miniFmod, it sometimes sounds rather different - so the mentioned conversion-process probably works a bit too optimistically.
uFmod's source-code is pretty much unmaintainable, though. You're fucked if it doesn't do what you want.
miniFmod on the other hand is all nice and smooth

Back in the days there was also
mxmplay/w, a windows port of mxmplay (which was a mini-xm spinoff from cubic player) which gave birth to a couple of hacks.
In particular Sagacity/
Thressstate included a (somewhat lossy) sample-compressor made by Digisnap/
Matrix which was used
here.
I doubt that there's any usable version of the player around, though.