There is no way to extend wardrobe or storage more than it is now. But you guys will get 2 more rows in inventory which should be enough, unless you carry a lot of useless stuff. It won't require any Points.
This should be available very soon
Mine's quite simple.
http://panel.epicpw.com/extendinv.php
Out of curiosity, is there any way to undo the inventory enlargement?
Currently no, but it's not a problem to make it. But why would you want to do this?