OK, I worked it out.
Paste this PlayerEffectDisplay_Spacer line above your PlayerEffectDisplay line and then copy the X and Y values of PlayerEffectDisplay to the new element.
Code:
<Element ID="PlayerEffectDisplay_Spacer" X="32" Y="0" Width="1" Height="15" />
<Element ID="PlayerEffectDisplay" X="32" Y="0" Width="207" Height="40" />