Moving dryer (and venting) to opposite side of room??? (PIC)

I'm looking to move my dryer next to my washer. If you look at the pic below, you'll see the washer bottom left and the dryer at the end of the room. Right behind the dryer is the vent outlet to the outdoor. I'm wondering if I can simply move the dryer next to the sink by the washer? My thinking was to run the venting straight up and then along the water piping that runs straight down that back wall, finally over to the right and out the same outlet? Any input on my options would be greatly appreciated. Attachment 42065 (http://www.doityourself.com/forum/attachments/electric-large-kitchen-home-appliances/42065-moving-dryer-venting-opposite-side-room-pic-img_3908.jpg)