Cranes would work, but I think you’re ignoring the massive difference in mass between what the biggest cranes in the world can lift and even the smallest reservoir.
https://qz.com/1355672/stacking-concrete-blocks-is-a-surpris...
I believe there's a beta test facility under construction now.
https://en.wikipedia.org/wiki/Energy_return_on_investment#ES...
according to the wiki, pumped hydroelectric storage has a ratio of 704 where as compressed air energy storage has a ratio of 792.
(Compressed air: limited by container tensile strength; gravity batteries: limited by strength of cables)
I suspect even the constants involved are the same (given the materials are almost uniformly under nominal load), although I don't have time to investigate right now (a good curiosity research topic!).
The nice thing about gravity batteries is that they can form a closed loop with water supply, too, pumping reclaimed water back up into reservoirs when there's excess power. I'd expect compressed air to have much higher energy density, but it would be interesting to see if anyone has the numbers.
[0] https://en.wikipedia.org/wiki/Gravity_battery