Hi Lisa,
The Icelandic pronunciation of Elín is:
E - like English "n
et" (but longer)
L - like a German or French L
Í - like English "s
eat"
N - like English "o
n"
The first syllable (E) is stressed. The accent above the i in the second syllable does not indicate stress but length.
You can listen to the Icelandic pronunciation here:
http://www.youtube.com/watch?v=DH9KwKiPyGEIt's a video on youtube, and the name Elín can be heard three times in the first 40 seconds (the second time it's the genitive form (Elínar).
Hope this helps!
/Judith