Of course, another option (which would be a user-toggled option) is to use a button to make extra tool options bars available with the other options. Click it to toggle them on, use what you need, click to toggle off if you need the work space. Or, click to toggle on, toggle off automatically on mouse-exit from the toolbar (or entry onto the canvas).

Say, I think that's a splendid idea! Most tool options can be grouped into sets:

Pencil tool options include: - LPE (being implemented) - line style + marker style (would be handy for many)

Text tool options include: - kerning (not yet implemented, many people want it) - buttons for flow into shape or text along path + padding (non-existing either) - and perhaps toggling between "simple" style options and advanced text options

So basically, there could be some visibility buttons on the side for you to toggle what you want visible and what you don't.

Apart from that, there could be an option for tool options to appear on two rows instead of one if it ever gets crowded.