Hi Ashley,
I understand you would like to remove in this case the top and bottom empty space, filled in red in the screenshot.
There isn't a function yet to do that. For this, one need a function to compute the actual bounds of an SVG object. It can be tricky in some cases, for example with texts and line joins.
In the meantime, if that's for an application UI, I would recommend to edit the SVG files to change its bounds. You can do that with LazPaint or with Inkscape.
Regards