The current one is 26 inches. Should I go for the 32 inch (black background) or 40 (white)

On the right, I show it lowered and enlarged. I think the main problem it it's hung too high.

Why two posts on the same dilemma?

For me i would rather have dining room in another space, the ceiling is too high for a dining room light fixture, it would make a great family seating area though. I don’t know the layout of your home though- its depends on how you like it. If i had to have a dining room table there i would probably be thinking of wall sconces instead with a decorative art piece in centre of pictures frames.

I think it's too high. The larger size might be better, but if you could just lower it and see, it might be fine.