The word Name can be changed on the profile fields admin screen. Simply edit it !
Dashboard > User > Profile Fields (wp-admin/users.php?page=bp-profile-setup)
What do you call blanks ? Your field names are all aligned left and the width seems to be equal for all. You can reduce it via your child-thme style.css.
Note that you will anyway get different blank space as the width will be adjusted to the longest word. Ie. ABCDEF will go from left to right border, but ABC will left a blank space on the right.
