I've set the resizemode property of the ScatterPlot.vb to 1. The height of the yaxis can get smaller. but the whole space this control take on my interface is stay the same. In other words, I can see my ScatterPlot gets shotter when I set the heigt from 200 down to 50, but height of the whole control is still 200 meaning I can't move my second control up because there is always a 150 vertical gap between my scatter ploting area and the second control.
Here is a repost of the answer to a similar problem:
The ChartView class has a default minimum size because if you don't have one, users will immediately create graphs that they resize to 0. This will cause floating point overflows as the chart plot area shrinks into a black hole.
The default minimum size for a ChartView is 200x200 pixels. You can change the default minimum size by calling the ChartView.SetMinimumSize method, specifying the new minimum size as a Size object.
this.SetMinimumSize( new Size(100,100));
It is recommended that you not take these values below 100x100.