i don’t think there’s much more you can do with the settings for that theme unless you know css and want to edit the theme itself.
it actually looks really good on a phone, btw.
you could consider making it a little smaller or more elongated (wider) to make it show less white space.
or if it’s available in that theme, you might be able to fill some of that white space with a widget. but i don’t think it looks too bad the way it is now.
it looks like you just need to crop and perhaps resize your logo. there is a lot of white space around the image that takes up a bunch of extra room. just open the image in an image editor (either paint on pc, preview on mac will work fine), then crop out the extra white space, and adjust the size if you need to.
hope that helps!