Join Date: Mar 2004
Bikes: rockhopper, delta V, cannondale H300, Marin Mill Valley
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That's a sweet ride, a much nicer bike than most of the models sold as hybrids.
The stock stem looks nice. Seems to match the Project Two fork but looks like it has a different name? I can't make it out. Yeah, it is kind of long though. Assuming you are looking to sit more upright, a shorter stem will help. Try moving your saddle forward on the seatpost clamp. That will put you in a more efficient pedaling position as well as putting you closer to the cockpit, and thus in a more upright position.
As you suggest, you might need a riser bar as well as a different stem, but I agree you should try a different stem first. I don't think risers on that stem would be a good match. Enjoy the ride!