The invention discloses an unstacking and stacking machine. The unstacking and stacking machine comprises a horizontal positioning assembly, a jacking assembly and a lifting assembly; the horizontal positioning assembly is used for horizontally positioning electricity meter circulating boxes, the jacking assembly is used for vertically jacking the horizontally positioned electricity meter circulating boxes, and the lifting assembly vertically moves to the position where the lifting assembly is matched with the vertically jacked electricity meter circulating boxes and pushes the electricity meter circulating boxes jacked by the jacking assembly to move horizontally. The electricity meter circulating boxes are stacked or unstacked through cooperative motion of the different assemblies, and the unstacking and stacking machine has the advantages of being simple in structure, convenient to operate, low in cost and easy to maintain and improving unstacking and stacking efficiency of the electricity meter circulating boxes.