The footer size is determined by the content that you place into it via Appearance> Widgets. So depending on what you’ve placed in your footer, there may be limitations on how small we can make your footer.
Here is some CSS that I found from another thread that will reduce the height as much as possible depending on your widgets. If you still want it smaller, then I suggest removing your widgets to see if that gets it the way you want it.
.footer-widget .widget, .footer-widget {
margin-top:0;
}
#containerfooter {
padding-top: 0;
}
.footercredits {
padding-top: 0;
padding-bottom: 0;
}
Place this CSS in Appearance> Theme Options> Advanced Settings.
Let me know if that works for you.