This is a pretty good question from a "domain/range" perspective.
Both the numerator and denominator of the original function have an axis of symmetry at [itex]x = -\frac{1}{4}[/itex]. So it's clear the y also has an axis of symmetry and thus is not invertible on the full domain. It is however invertible if we restrict the domain to [itex]x > -\frac{1}{4}[/itex]
Define,
[tex]f(x) = \frac{2 x^2 + x +1}{2 x^2 + x -1} \,\,\,\,\, : x \ge -\frac{1}{4}[/tex]
The best approach is to start by completing the squares top and bottom.
[tex]f(x) = \frac{2 (x + 0.25)^2 + \frac{7}{8}}{2 (x + 0.25)^2 - \frac{9}{8}}[/tex]
Put this in the form,
[itex]y = \frac{z+a}{z+b}[/itex], where [itex]z = 2 (x+.025)^2[/itex].
Solving for z gives,
[tex]z = \frac{9y + 7}{8(y-1)}[/tex]
And hence
[tex]x = \sqrt{z/2} - \frac{1}{4}[/tex]
[tex]x = \sqrt{\frac{9y + 7}{16(y-1)}} - \frac{1}{4}[/tex]
The domain of this inverse function is, [itex](y>1) \, \cup \, (y< -\frac{7}{9})[/itex].