Stability region of random access wireless networks is known for only simple network scenarios. The main problem in this respect is due to interaction among queues. When transmission probabilities during successive transmissions change, e.g., when exponential backoff mechanism is exploited, the interactions in the network are stimulated. In this paper, we derive the stability region of a buffered slotted Aloha network with K-exponential backoff mechanism, approximately, when a finite number of nodes exist. To this end, we propose a new approach in modeling the interaction among wireless nodes. In this approach, we model the network with inter-related quasi-birth-death (QBD) processes such that at each QBD corresponding to each node, a finite number of phases consider the status of the other nodes. Then, by exploiting the available theorems on stability of QBDs, we find the stability region. We show that exponential backoff mechanism is able to increase the area of the stability region of a simple slotted Aloha network with two nodes, more than 40\%. We also show that a slotted Aloha network with exponential backoff may perform very near to ideal scheduling. The accuracy of our modeling approach is verified by simulation in different conditions.