While you cannot upgrade from Windows 95 to Windows XP, Windows 98 and Me do support such an upgrade.

You can install Windows XP on that machine, provided it meets the necessary requirements. You can opt to install XP over your existing OS or keep the Windows Me software so that you can choose which operating system you want to work with.

Mind you, a full XP installation will delete all of your files and settings, so back up your hard drive before you install.