After sifting through multiple stack-overflow answers and blog posts, here is a list of consolidated steps to install scipy stack on Ubuntu 14.04. (I’m currently using Elementary OS Freya which is a derivative of Ubuntu 14.04).
$ sudo apt-get install python-pip python-setuptools python-dev
$ sudo apt-get install libjpeg-dev zlib1g-dev # Pillow build dependencies
$ sudo apt-get install libblas-dev libatlas-dev liblapack-dev gfortran # Scipy dependencies
$ sudo apt-get install g++ # Sciki-lean dependency
$ sudo apt-get install cython # Scikit-image dependency
$ sudo apt-get install libenchant-dev # PyEnchant dependency
$ pip install scipy numpy (use pyenv, not sudo)