mlgconverter.exe from this thread can convert a mala gamelist to a text file.
http://forum.arcadecontrols.com/index.php/topic,101104.0.html....but it's probably not what you're looking for.
Mala gamelists contain all sorts of other information like path, screen orientation, joystick type, etc.
All that stuff will be there too and takes up a lot of space between the game names.
If you're just looking for something to spit out a list containing the names of all the games, I don't know of anything.