How do you get this dialogue or info smaller?
Shrink GUI
If you make your GUI smaller, this item information is also smaller and fits on the screen.
Press Escape → Options → Video Settings → Change GUI Scale to "small".
2. Pull the window higher
If you pull up your Minecraft window, you'll see all of the text.
3. Modify the game
Unfortunately, there are only two options mentioned above. Both not optimal. But you can install a mod that reduces the item tooltips. In clients like Labymod there should also be addons.
What is the name for labymod
Not sure, search for "Tooltip" or "Sbaddons" or "Skyblockaddons", you might find it there.
If you can't find anything you have to go to Forge and install the SkyblockAddons mod.