Loud Engine

I have a 94 SL2...the engine has always seemed a little loud, although I have thought it was the exhaust but never found any leaks...but I was wondering if anyone knew why it sounded so loud. Maybe valves or something. It's not a loud ticking or knocking, just small taps I guess. It gets louder when you step on the gas too.
I don't know if it's related or not, but I have noticed smoke/steam coming out of the oil cap if I take it off after it's been running, even for just a few minutes.
If it needs a valve job, does anyone know where I can get the information on how to do this?
Thanks for any help!

Make sure there is oil in it!

It quite possible is the timing chain slapping around behind the front cover. It is fairly common on higher mileage less than adequately maintaned (not sayin yours is but lack of oil and lack of oil changes speeds up the process)engines.

If it is the chain, it is by far better to change it before it breaks or slips!!!!

Tensioners will also make some wierd clicking noises.

The only way to check if it's the chain is to take off the valve cover and timing belt stuff? (sorry, new to this so haven't really looked into how it's all done yet)
And the engine has always been loud since we got the car but lately it's been getting worse. It has enough oil in it, I check that often cause I know the harm in letting it get low.
If it was the timing chain wouldn't the sound come more from that side instead of over the spark plugs and cover?

Its not a timing belt it is a timing chain and it can be checked by removing just the valve cover. There are a couple of chain guides that will be able to be seen and it will be obvious if they are worn out. The tension of the chain between the 2 gears should be tight with little to no slop. Rotate the crank br hand to see if this is consistent through 2 complete revolutions of the crank The sound would seem to be coming more from the passenger side of the engine.

Another thought is that a lifter is getting sticky. There is a product available called Seafoam Motor Tune. Find a can of it and add half to the oil. start the car and let idle for twenty minutes. If it is a stuck hydraulic lifter this will 99% of the time take care of it.

Some other things to consider. If it is more of a hollow sound it is more likely to be comming from the lower end (not good). There is also a noise called piston slap.

Most shops will listen to noises for free. Get several opinions and let us know what they are. It is really hard to interpret noises through a keyboard so this may not be a bad option.

Okay, thanks. the sound is coming more from the center rather than the passenger side. But I will try the seafoam and if not I will maybe take the cover off and check out the timing belt.
what retailers sell that seafoam? or is it something I have to get online?

Its very common in the midwest and can be found everywhere from your favorite parts store, marina, fleetfarm, walmart, or any other automotive type retailer.

okay thanks, ill look into it.