The argument has also been made in these forums that as you get into better shape, you're more likely to be comfortable with lower handlebars. If you haven't been riding long, you might want to wait a bit and change handlebar position gradually, put a spacer or two above the stem like AnthonyG mentioned.

The OP mentioned the bars seemed too close, and depending on the angle of the stem, flipping it will also probably put the bars slightly farther away from the seat. So it's got that goin' for it. Which is nice.

Cheers.