Although the question is already a few years old, I hope that I can still add a little perspective to what has already been mentioned by others. First of all, the reason why $1/\lambda$ is preferred over $\lambda$ has been nicely addressed by Ben Norris and ssavec: it provides a scale that is linear in energy so that you can directly compare the distance between lines and also the linewidths. But that being said, why not use other energy units? In fact, you can. You will often find spectra that have frequency units (MHz, GHz, THz, etc) instead of wavenumbers and that is totally fine.
The reason why wavenumber is so popular - besides providing "reasonable" numbers - is partially historical. The first spectroscopic experiments were performed before the advent of quantum mechanics and the relation between the energy and wavelength of light was not known until Planck and Einstein introduced it early in the 20th century. You probably have heard of the Balmer formula (1885) that predicts the emission lines of atomic hydrogen. The original formulation of the Balmer formula is
$$
\lambda = B\left (\frac{n^2}{n^2-2^2} \right ) \text{ with }B=364.50682\,\text{nm}.
$$
A few years later (1888) Johannes Rydberg tried to find a similar equation to predict the spectral lines of the alkali atoms (that like hydrogen have a single valence electron). Rydberg did not manage to find an expression similar to that of Balmer. While playing with the data, Rydberg realized that if he used the inverse of the wavelength it was much easier to spot a pattern in the data and he derived the following formula that is now named after him
$$
\frac{1}{\lambda}=R_\text{H}\left (\frac{1}{n_1^2}-\frac{1}{n_2^2} \right ) \text{ with }R_\text{H}=1.09677583\times 10^{-7}\,\text{m}^{-1}.
$$
When Rydberg introduced the concept of wavenumber he was unaware of the fact that a wavenumber scale is proportional to an energy scale: he only used it as a mathematical manipulation to find a relation between the spectral lines of alkali atoms. Now that we know that the pattern in a spectrum is easier to interpret if you plot it on an energy scale it does not matter what scale you choose, but many people still prefer the wavenumber scale.