Yes, it has been cut. Looks like you've got 1 10mm spacer and 2 5mm spacers. Most manufacturers recommended a max of 30-40mm of spacers, but you cannot do that without getting a new fork. More important, you'd also enrage the forum by running so many spacers.

Your stem is likely +6 or +7 deg. You can get the bars up higher by using a +10 deg stem. A +17 would also work, but the steep rise would look kinda funny on a race-oriented bike. (and will also enrage the forum)

Bob