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The Greek word for exalt is rāmam. The transliteration for it is to raise, or extol. Clearly, if God is raised and extolled amongst the heathens, and over all the earth, there’s no room for anyone, or anything else. Ask the Mormon why they’d have to procreate to be exalted. Share with them that God is exalted based on His merit of being God alone.
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Mormon Doctrine, p. 257; “Celestial marriage is the gate to exaltation, and exaltation consists in the continuation of the family unit in eternity. Exaltation is eternal life, the kind of life which God lives…they have spirit children in the resurrection, in relation to which offspring they stand in the same position that God our Father stands to us. They inherit in due course the fulness of the glory of the Father, meaning that they have all power in heaven and on earth. (D. & C. 76:50-60; 93:1-40.) “Then shall they be gods…” – Bruce McConkie