I assume that you are a student. You also are an individual who is growing physically, emotionally & intellectually. As you know, sleep is an integral part of anyone's life. Along with other benefits, you would be generating growth hormone during sleep. So lack of sleep could affect you in many ways. I see that you are getting a good amount of sleep right now. You might like to shorten it to accommodate something else which you consider more important. Please sit with a good friend/someone you trust/psychologist and go through your routine to see what else can be altered to create a day you want. If you are juggling with many things, there are ways to reconsider the way in which you are handling them to be more efficient and also to save time. End of the day, sleep also is a priority.
Go ahead & plan your priorities wisely.