Hi. Yes, you can install a higher rise stem and different bars. As an alternative, you can install a threadless stem extender, which essentially raises the mounting point of the stem. This would probably be the least expensive option. You might go for that and an adjustable stem -- that would permit you to raise the basic mounting point AND also fine-tune the stem angle, without having to replace the handlebar itself. That would be the most involved (because you'd have to move all the controls), but it can certainly be done.
Good luck!