The new Outlook 365 look has too much wasted space at the top of the application window.

Office 365 just updated the other day and wow there is even more wasted space at the top of the application window. The entire area I have outlined with a red box seems like it could be combined to all fit on a single row. Move the search bar to the right side of the 'Help" menu and bring the diamond/minimize/maximize/close buttons down. Basically looking at it you can see a huge waste of screen real estate.

Please tell me there is a way to reduce the space in this area of the screen. I do not want to minimize the ribbon or use simplified ribbon. I do not want to change the ribbon. I'm only talking about the space in the "title bar" or whatever you call that area in the red outlined box in the attached image.