Already we have a plan to reduce the current top padding size (space above the outline border). Also, as mentioned in our previous update, we will expose an API to collapse the bottom space. Both the mentioned improvements will be available in our upcoming volume release which is expected by the mid of December 2018.
Kindly share us an image representation of your requirement for the extra space in the control, so that we can validate your requirement with our plan.
Joy Oyiess Rex K.