How Can I Reduce Size of Ribbon Icons & Text in Office 365 / 2016?

Why does everyone keep mentioning the Mouse of Touch when people are stating over and over it does not work? It's just frustrating when someone says a fix isn't working and people keep suggesting they use it. Seems I am going to have to search the web for a solution because there isn't one on this website. I hope someone finds a useful solution that actually works, and they will post.

Thank you jaymee_marie! This worked! Thank you for posting the answer.

Yes!!! It worked!!! Tkx Jaymee_marie :)

Since MS Office was updated earlier in 2019 (for me) I have had this stupidly sized ribbon that takes up about double the screen area compared to previous iterations of Office.  I want to reduce it, so do many other people it seems but there seems to be no satisfactory method.

Before answering, please read the following;

1. I do not want to HIDE the ribbon, I just want the icons / text to be smaller.
2. I know about the MOUSE / TOUCH setting.  It is already on Mouse and the ribbon is still far too big.
3. Monitor resolution is 1920 x 1080 on my laptop and secondary screen, there is no option to change monitors.
4. Text size in the OS is currently set to the recommended 125%  I do not want to change this as I do not want to upset any of my other (many) applications.
5. This is only a problem caused by the update in MS Office, no other apps are affected.

Will someone at Microsoft please explain how to reduce the childish looking icons and text in the MS Office Suite so that I can recover screen space?

If those crowded MS could help anyone themselves would be first in line.

Since MS Office was updated earlier in 2019 (for me) I have had this stupidly sized ribbon that takes up about double the screen area compared to previous iterations of Office.  I want to reduce it, so do many other people it seems but there seems to be no satisfactory method.

Before answering, please read the following;

1. I do not want to HIDE the ribbon, I just want the icons / text to be smaller.
2. I know about the MOUSE / TOUCH setting.  It is already on Mouse and the ribbon is still far too big.
3. Monitor resolution is 1920 x 1080 on my laptop and secondary screen, there is no option to change monitors.
4. Text size in the OS is currently set to the recommended 125%  I do not want to change this as I do not want to upset any of my other (many) applications.
5. This is only a problem caused by the update in MS Office, no other apps are affected.

Will someone at Microsoft please explain how to reduce the childish looking icons and text in the MS Office Suite so that I can recover screen space?

If those crowded MS could help anyone themselves would be first in line. 

I had the same problem and it took forever to get an answer, but someone replied that sometimes the settings get "stuck" so what you have to do is change the size of the text to something huge like 200% with the "Advanced scaling settings", restart your computer and then change it back to what you want (100% or 125%)).  Restart your computer again if you need to.   It worked like a charm for me.  Hopefully it will work for you as well.