The short answer, as pointed out by Randall in his comment, is that polynomials are by definition sums of terms of the form $ax^k$ where $k \ge 0$; since $x^{-1}$ is not of this type, it is not polynomial. This actually covers the case of formally defined polynomials
$p(x) \in F[x], \tag 1$
since there is no term of the form $x^{-1} \in F[x]$ according to the conventional definition, which only addresses non-negative powers of $x$.
Perhaps a somewhat more subtle question is whether, as a function, $x^{-1}$ may be expressed an element of $F[x]$; that is, can we ever have
$x^{-1} = p(x) = \displaystyle \sum_0^n p_i x^i \in F[x], \; p_i \in F, \; 0 \le p_i \le n? \tag 2$
the usual understanding of this equation, as an equivalence of functions, is that
$\forall 0 \ne a \in F, \; a^{-1} = p(a). \tag 3$
Under the hypothesis that
$\text{char}(F) = 0 \tag 4$
we may rule (3) out as follows: it is equivalent to
$\forall 0 \ne a \in F, \; ap(a) = 1, \tag 5$
which in fact asserts that every $0 \ne a \in F$ is a root of the polynomial
$xp(x) - 1 = \displaystyle \sum_0^n p_i x^{i + 1} - 1; \tag 6$
we have
$\deg(xp(x) - 1) = n + 1; \tag 7$
as such, $xp(x) - 1$ has at most $n + 1$ zeroes in $F$; but (4) implies that $F$ contains a copy of the rationals $\Bbb Q$ as an infinite subfield; every non-zero element of $\Bbb Q$ must thus satisfy (6), and hence a reduction to absurdity is attained. Therefore, (2) cannot be the case. $OE\Delta.$