Lateral multi-junction photovoltaic cells, devices, and methods of fabrication are provided. The photovoltaic cells include a plurality of photovoltaic subcells mechanically stacked together in a stack. Each photovoltaic subcell includes a subcell substrate, and a light absorption structure associated with the substrate. Each light absorption structure is optimized for a respective defined spectral range of incoming radiation, with the light absorption structures of multiple subcells of the plurality of photovoltaic subcells being optimized for different spectral ranges, and being offset in the stack relative to an optical axis to avoid overlap. The photovoltaic cell further includes a spectrally-dispersive optical element, with the photovoltaic subcells in the stack being respectively located and aligned relative to the optical element based, at least in part, on the respective spectral ranges of the subcells' light absorption structures.