In a toaster oven, yes, you can make cakes. In general, toaster ovens are not very large. It is merely 8 to 12 inches tall and only 15 to 18 inches wide, as was already said. Therefore, your pan should be small enough to fit inside your oven. For cakes to be baked precisely, your oven must be set at the proper temperature; otherwise, the cake's sides will burn.