To change the sizes of "fixed" gauges (as opposed to popup window gauges, as garymbuska has suggested) you will need to edit the aircraft\panel\panel.cfg file.
To me the easiest way is just get (free) CfgEdit
http://www.cfgedit.com/A harder way is to edit panel.cfg with notepad. Here's a typical gauge entry:
gauge88=mooney_bravo!Clock, 4,240,110,54
The gauge number isn't that important. Just number them consecutively and make sure that 2 of them don't have the same number.
The first 2 numbers will tell you where the upper left corner of the gauge wil go when superimposed on the panel's background graphic. The second 2 numbers tell you the size of the gauge (horizintal, vertical). If you don't want to go the CfgEdit route you can mess around with these by trial and error and see what happens.
If you're experimenting with notepad you could double the size of this gauge, REMark out the old gauge with a couple of backslashes (just in case) and change the gauges configuration to something like this:
//gauge88=mooney_bravo!Clock, 4,240,110,54 <- REM out existing gauge
gauge88=mooney_bravo!Clock, 4,240,220,108 <- Double gauge size