The spacing is all set by your theme. If you want to optimize something, my recommendation would be to contact the support of your theme: https://www.ads-software.com/support/theme/colormag/
If there are no settings from their side, you could influence the spacing with CSS. You can use this to reduce the distance from the top of the header to the content:
body .cm-content { padding-top: 30px; }
You can use this to influence the spacing at the very top to the edge of the browser:
body .cm-header-1 .cm-row { padding-top: 12px; }
The spacing between the posts can be influenced with this:
body .cm-column-half { gap: 10px; }
You can adjust the values to your wishes. You would have to enter this CSS code under Appearance > Customizer > Additional CSS.