Thank you so much for your review.
As someone who's a true size S and 5'6, with a size D boobs, the only way that top will ever fit me right below the boobs would be if i sized down.
I believe that you've sized down to a size S which is why you're noticing the top being very small. I see from. your order you've also selected a M in another item, so perhaps you are in between those two sizes. In which case, going with the smaller size will result in the item getting smaller on all measurements.
Perhaps for cropped items, Id suggest going with the size up rather than down if you're in between sizes.