I am not familiar with EPSXE exactly, but the rule of thumb is if you want something to launch under Laz/DragonKing, make sure you know you can do it from a command prompt manually first. Stick to debugging your problem there before trying the FE. If you can type it in at a prompt and get it to launch the right way .. there is a 99% chance you can get it setup with a Laz wrapper to make it work.
#1 Suggestion .. use -loadbin <file> - Loads a specified ISO image file.
#2 Suggestion .. play with quotes around your rom name .. could help with weird space handling.
#3 Suggestion .. once you can launch at command prompt, read up on Laz command-line wrapper.
Good luck!