NO! don't touch the head
if you raise the jug you need to remove the distance raised from the top of the jug, or what can also be referred to as the "deck".
The head sits on top of the deck.
You need to bring "the deck" back down to the top of the piston.
Best way to do this would be taking to a machine shop and paying for it. If you are cheap and can pay attention to what you are doing you can "lap" away the excess deck height. Fine grit sand paper, oil, and a very flat surface and lots of time. Stoping often to verify that you are still flat and square to the bore. Yeah, you are gonna have to measure all four corners often. It took me about 8 hours, not in a row, to remove .093 inches from the top of on kit I was assembling.
Later, you may think about trying to remove material from the head, in order to further increase compression. However, because of its very hemispherical shape this will not yield as dramatic a reduction in combustion chamber volume as you would expect