Adjusting ‘Padding’ ?

Please see pic..

View post on imgur.com

I have added a picture on the home page.. The background needs t be made white but I just wanted to see how it positioned it..

Any designer and non designer can easily say the balance is off here..

Too much space at the top and too squashed to the bottom title.

This is not an image issue, I heard the word ‘padding’ the other day, is this that? can it be adjusted in anyway??

Thanks.