I had my Merc 1500 on a jackplate on my 16' speedboat. It caused the boat's transom to sit lower in the water, but provided a bit of extra speed. The transom sitting lower in the water was an issue, as the weight of the motor was more than the builder planned for, as the boat was rated for an il4.
Another drawback is that power trim has less effect when the engine is mounted higher using the jackplate. So, if you want to trim up the bow when running at high speed, you will get less effect from the trim setting. Still another drawback is that the motor must be trimmed all the way down, each time you try to accelerate from idle, or the prop blows out. That proved to be a PIA.
I ended up taking the jackplate off the boat, and bolted the engine to the transom, pretty high up, so it had less/none of the drawbacks of the jackplate, and most of the advantages. I lost a bit of speed, but not very many MPH.
My advice, put a piece of wood on top of your transom to raise the engine a bit. A 2x2 is probably about right.