Make a note of your existing Printing offsets and adjust accordingly.

Label Printer Offsets:

Labels (horiz.) 0.50  (vert.) 0.05

Start by increasing the Vertical offset form what it is now, i.e. if it is 0.00 change it to 0.05.

Print another label and see if this is enough of an adjustment. Increase or decrease as required.

If changing the Vertical Offset does not move the label down, try the Horizontal offset.