Item name overlaps oxygen bar

Summary:
When an item in the hotbar is selected while the player is underwater, the name of the item overlaps the oxygen bar.

Steps to Reproduce:

1. Place an item with a long name in the hotbar
2. Submerge yourself in water
3. Switch to Survival mode
4. Select the item in the hotbar

Observed Results:
The name of the item above the hotbar overlaps the oxygen bar.

Expected Results:
The name of the item should be raised to prevent it from overlapping the oxygen bar.

Screenshot: