SharePoint Breadcrumb Styles

SharePoint (and .NET) has a built-in SiteMapPath control that is designed to display a breadcrumb trail.

There are a lot of options in terms of styling the breadcrumb trail, but it is not obvious how all of them are used. Even more confusing, though, is when you make a change the the styles but you don’t see that change reflected on your site. For example, on one site I am working on I saw breadcrumbs like these:

An example of SharePoint breadcrumbs
An example of SharePoint breadcrumbs

I didn’t like how much vertical space this style occupied. I wanted something a little more compact. But how to change the appearance?
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