Editing the padding on the homepage search module is a design setting allowing to easily adjust both the top and bottom padding. 

What Is The Top Spacing Padding And Bottom Spacing Padding? 

Padding is used to create space around an element's content, inside of any defined borders. We've outlined both the top padding and bottom padding of the search module to illustrate that can be edited with this setting:

To access these settings, please go to: Settings >> Design Settings >> Hero Background Image

Edit the top and bottom padding pixels until the designed result is reached: