Yes, they do mean the same, but they're not always used in the same way.
'What are you doing?' is a simple request for information. Without any further context, it means refers to what someone is engaged in at that particular moment. It can sometimes appear a little 'bare' as a question - maybe rude or too direct.
'What are you up to?' is a more informal, conversational question, which can also mean 'Tell me about your life at the moment - what's good? what's bad? what's happening?' . You would often meet a friend or acquaintance whom you haven't seen for a while and say:
'So, what are you up to these days?'
It's a fairly open question, and an invitation for them to give you their news. You can also use it in the present perfect :
'So, what have you been up to recently?'