Yes, it is possible to apply a margin space on top and bottom on adslots
Indeed, we highly recommend to apply a margin space on top and bottom of adslots, also on the left and right of the ads, in order to avoid advertising to be too close to the content or even cause unexpected content jumps when lazy loading is applied, which can alternate the user experience.
To avoid it, we create a minimum height parent div to the ad tag div.
If the creation of a smaller size wins the market, we also set a vertical center in CSS. This helps to visually reduce the margins that can appear when centering the ad height.