Specifying a size when displaying an image associated with a taxonomy through ACF

It appears you currently have the field set to return the image object, if you scroll down to the bottom of the page you linked you’ll see an example object:

Array
(
    [id] => 540
    [alt] => A Movie
    Specifying a size when displaying an image associated with a taxonomy through ACF => Movie Poster: UP
     => sweet image
    Specifying a size when displaying an image associated with a taxonomy through ACF => a man and a baloon
    [url] => http://localhost:8888/acf/wp-content/uploads/2012/05/up.jpg
    [sizes] => Array
        (
            [thumbnail] => http://localhost:8888/acf/wp-content/uploads/2012/05/up-150x150.jpg
            [medium] => http://localhost:8888/acf/wp-content/uploads/2012/05/up-300x119.jpg
            [large] => http://localhost:8888/acf/wp-content/uploads/2012/05/up.jpg
            [post-thumbnail] => http://localhost:8888/acf/wp-content/uploads/2012/05/up.jpg
            [large-feature] => http://localhost:8888/acf/wp-content/uploads/2012/05/up.jpg
            [small-feature] => http://localhost:8888/acf/wp-content/uploads/2012/05/up-500x199.jpg
        )

)

so for a specific size you want to replace $taxonomy_image['url'] with $taxonomy_image['sizes']['thumbnail'], where thumbnail is the desired size key.