I'm on Ubuntu 20.04, Audacity 2.3.3 from repo.
Here's what I'm trying to do - simply overdub some acoustic guitar onto a pre-recorded mp3 file that I imported. I've started Audacity, imported the mp3 and connected my guitar to an MAudio MobilePre, and plugged that into the USB of my Linux box. I have a decent input level set that barely clips into the red and my volume on my acoustic up at 10. I hit Shift-R to record a new track. I have my headphones plugged into the MAudio's headphone jack. I hear audio from the imported mp3 but I don't hear anything from the new track while I'm playing thus I can't record in time. After I stop recording I can playback and I hear both tracks now. My new track is extremely low even though I have the recording level maxed and the level on the MAudio at a decent level.
It's hard to read some of the things in Audacity since my monitor's a UDH and I've scaled up the text so I can read things and Audacity doesn't properly render the Audio Host, Recording Device, etc. properly

But they are set to:
Audio Host: default (Displays ALSA)
Recording Device: default
Recording channels: 1 mono
Playback device: default
My sound card is Starship/Matisse HD Audio Control Analog Stereo if that matters. I've played around with things trying to get this to work to no avail.
What can I do to get this to work? This should be dead simple but it's always a stumbling block. Let me know if there's any info I can provide to help solve this. It's really frustrating.