Fractions in Google Docs equations are too small to read:
How can I write normal-sized fraction?
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Left side: one usage of equation builder. Increase font size.
Right side: use another instance of equation builder.
In this example, 30px on the left, 18px on the right. The formula writer tried to keep the box (container for formula) the same height as the rest of the line height; shrink to fit.
I found this difficult to get right at first, so I am expanding on the accepted answer of @Omar Elrefaei.
At first I thought I was selecting the "whole equation" with the above selection, but changing the font size had no effect.
Then I realised I needed to expand the selection a tiny bit more. In my case, by pressing
Now, adjusting the font size on the menu does indeed increase the font size of the equation.