I think, like a lot of technical questions, you can get different answers by "zooming in" to different levels of technical detail.
Here is highest level, least technical, shortest explanation I can come up with:
Feynman described the process of science as (1) making a guess for a specific model, (2) computing the consequences, and (3) comparing with experiment. Experience over the past 100 odd years of quantum mechanics has given us a set of tools to do (1) -- that is, for ways of "guessing" quantum theories. However, when we apply these rules to Einstein's theory of general relativity for gravity, we run into problems in step (2). If we try to compute predictions at or above the Planck scale, we find that the predictions are nonsense. Whether that's because the theory we guess is not well defined, or whether it's because our standard tools aren't good enough to understand the theory, is debatable, although most people would probably argue for the theory being ill-defined. As an additional, although logically separate, problem, we also have problems with (3), because to date no one has found a situation where both quantum mechanics and general relativity are necessary to explain an observation.
As an aside, the fact that the problem is with step (2), and not step (1), is one of the reasons this subject is so technical and difficult to explain at a "non expert physics" level. The issue isn't some grand philosophical question about what kind of guess makes sense. We have a specific theory -- general relativity -- and we have a specific procedure to follow -- quantization - the issue is that when carrying out the procedure in detail, we don't arrive at useful predictions at high energies. On some level, the "right answer" to this is that we're doing something wrong, and the obvious way to write an "easy non-expert" answer would be to simply tell you what the wrong thing is and how to fix it, but we don't know how to fix the problem. So, that maybe gives some context for why it's so hard to give a non-technical explanation; all we can really say for sure is what goes wrong in the calculation if we try to follow the usual rules.
That may be unsatisfying, because I'm not really saying what the issue with (2) is, so I will try to go one level deeper (still only just scratching the surface though).
- "Quantization" is a series of heuristic rules (aka, guesses) that we apply to define a quantum theory that is guaranteed to reduce to a given classical theory in the limit that quantum effects are small.
- These rules have been very successful when applied to theories of particles with spin-0, 1/2, and 1, at relativistic energies (meaning when special relativity is relevant). The Standard Model is an example theory like this.
- The rules can be applied to gravity, which is described by a spin-2 particle coupled to other matter. When we apply the rules, we find that we can make predictions in the sense of computing the first few terms of a Taylor series of the energy scale of the process divided by Planck scale. (Technically the Taylor series I'm referring to is called the "Wilson action" at scale $\Lambda$, and I'm supposing the cutoff scale $\Lambda$ is around the Planck scale).
- However, for energies at or above this energy scale, it is not enough to compute a few terms. This causes several problems.
- First, most obviously, we don't know how to compute the infinite number of terms and "resum" them into something useful.
- Second, we need to account for effects that don't appear in Taylor series at all. This might include effects of quantum black holes, for example.
- Additionally (I'm not saying "finally" because this subject is so complicated that I'm sure someone can come up with more problems), according to our normal rules, we expect that for each term in the series, we need to introduce a new parameter to make that term well defined. The details of how you introduce these parameters are what people call "renormalization" -- a "renormalizable" theory is one where you only need to introduce a finite number of parameters. Renormalizable theories are predictive because we can do a finite number of experiments to measure those parameters, then the results of all other experiments are predicted by the theory. Non-renormalizable theories, on the other hand, require an infinite number of parameters, so no matter how many measurements you do, you can always adjust a parameter in the theory to fit that experiment. Therefore, non-renormalizable theories are not predictive, so not useful for science. (More precisely, they are not predictive in the regime when all the terms in the Taylor series are important.)
The above explanation likely leads to many more questions (like, "what is it about a spin-2 field that is different from spin-0, 1/2, and 1 fields"), but to answer those would require "zooming in" to deeper levels, and I will not try to do that now.
However, I will try to give you a broad idea of some approaches people have tried to fix this problem (not at all comprehensive):
- One approach is to say that the equations of general relativity really are correct quantum mechanically, and we either need to understand quantum mechanics better, or modify quantum mechanics.
- One version of the idea that the equations of general relativity are correct, and we "just" need to understand quantum mechanics better, goes by the name of "asymptotic safety", where it is hypothesized that the series I am describing above actually is something meaningful that does not require an infinite number of parameters to define. The main problem with this approach is to show that the "something meaningful" (a conformal fixed point) actually exists, and that is very hard, and not guaranteed to work.
- One version of the idea that we need to modify quantum mechanics to "accommodate" general relativity is loop quantum gravity, which states that if we work with the right variables, and modify the standard quantization procedure, we can get a well defined theory. One problem with this approach is that, because the standard quantization procedure is modified, it is not guaranteed to recover classical general relativity as an appropriate limit when quantum effects are small, and indeed (as far as I know) no one has been able to show this limit exists.
- Another approach is to say that the equations of general relativity are just an approximation to something else that takes over at the Planck scale, and we can apply standard quantum mechanics to whatever this new thing is. Of course, there are a lot of new equations you could guess, and no experiments we can use to rule them out, so the trick is to find a compelling reason to consider any particular guess.
- The classic example of this approach is string theory. The way string theory gets around the problem of "why did you guess that" is basically that string theory wasn't originally invented as a theory of quantum gravity. It started as an exercise to guess a formula with certain properties that would be useful in the context of the strong interactions, and eventually people realized that formula drops out of a theory of a relativistic string, along with a massless spin-2 particle (the graviton), 10 dimensions (if you include supersymmetry), and so on. At a fundamental level, string theory is very tightly constrained and has a lot of internal logic, which is very good for this kind of approach, because it gives a reason for why this particular set of equations is worth studying. However, a major problem with string theory is trying to construct a model that reproduce the world we live in. Among other challenges, a problem is that when you compactify ("get rid of") the extra dimensions we don't observe, you typically introduce massless particles (moduli) which would exert forces we don't observe. You can try to solve this problem, but it leads you down a rabbit hole that I would say no one has made sense of yet -- at least, there is not a compelling model that solves that issue plus reproduces the vacuum we observe.
Finally, I'd like to end by pointing out that there are some things we'd like a theory of quantum gravity to do, like explain what happens at the singularity of a black hole, or at the big bang singularity in cosmology. So far, none of the approaches have a compelling explanation for the singularities (and of course, even if they did theoretically, we are very far from being able to test the explanation empirically).