I have found a solution. It is under the tab "Gizmos". There I could decrease the size of the labels.
https://docs.unity3d.com/420/Documentation/Manual/GizmoandIconVisibility.html
Thanks again.
Thank you, Chris.
I am working in Unity 2017.1.0f3 on Mac. Yes, it seems that it is not AC bug as when I assigned the labels to the other objects I started to have the similar issues with them. I will dig Unity forums to find the answer or wait for…