The plate load for a triode (e.g. 12AX7) determines the stage's gain and the tube current. Plate voltage is affected by the tube current and the plate load value. The more tube current there is, the lower the plate-to-cathode voltage will tend to become, and vice versa - all other things being equal. The grid-to-cathode voltage determines micro-adjustments to the tube current and also provides an effective input signal voltage operating region. There is a practical limit to how much you can decrease a plate load resistor before you overheat the tube. Conversely, there is a practical limit to how large you can make a plate load resistor before the tube runs so cold that gain becomes unpredictable. You need to stay within a 'normal' range of operating characteristics to ensure reliable tube operation. Having said that, there is some flexibility in load resistance and bias voltage, within which you can experiment, which will not harm the tube. However, you shouldn't cause the tube to run so hot that components (or the tube itself) gets destroyed by excessive heat. There is usually also an absolute maximum operating voltage that you should never exceed, lest inter-electrode arcing occurs (which can also destroy the tube). All this information is on tube datasheets.
Generally for a 12AX7, typical gain stage supply voltage (i.e. 'B+' in the US or 'HT' in the UK) for the stage can range between about 60V to 380 or so volts. Typical plate loads would normally be between 47k to about 470k, with 100k being quite common. Typical bias resistor values range between a minimum of about 820R up to 39k, with 1k to 3k9 being quite common. For a typical Fender gain stage, a plate load of 100k and a bias resistor of 1k5 is quite common. This delivers a plate voltage that is typically about 2/3 of the supply voltage for the gain stage in question, at a bias voltage of between 1-2VDC.
If you decrease the plate load to 20k, you not only risk running a 12AX7 triode too warmly* (too much tube current), but you decrease the effective gain of the tube because output impedance will be increased and plate output signal swing will be more limited.
* A 12AX7 triode is rated for 1W maximum plate dissipation, and you usually want to say well under 1/2W.
Whereas a tube like a 12AU7 prefers to be run with a 10k to 20k plate load, and does not perform at all well with a 100k plate load.