I believe the real solution is to stop with the election day concept and move more to an election week or something similar.
But we already know from extensive study of political systems in modern democracies that the biggest reason for low turnout in the US is the fact that very large groups in the electorate see no candidate that represents their interests well when voting, and see no strong basis to select between the viable choices, due to the partisan duopoly produced as a natural result of the combination of majority-runoff and plurality elections for most offices.
If you really want to improve participation in US elections, fiddling with the mechanics, scheduling, and incidental related features of casting ballots without changing the electoral system in a fundamental way isn't going to have more than marginal effect.