There isn's a way to change the block size of an existing file. The
block size of a file can be specified only at the time of file
creation and cannot be changed later.
There isn't any wasted space in your system. If the block size is
128MB but you create a HDFS file of say size 10MB, then that file will
contain one block and that block will occupy only 10MB on HDFS
storage. No space gets wasted.