In general, a larger wheel size, such as 17-inch tires compared to 16-inch tires, provides better handling of the vehicle. That aspect comes at the cost of a somewhat rougher ride.
The larger the wheel size, the smaller the sidewall height. This puts the tire closer to the ground and results in a rougher ride. As the tire size decreases, the sidewall becomes larger and the ride is softer as a result. In that sense, changing the tire size is a trade-off. Tire size can be changed as an after-market modification. The recommendation is to go up no more than 1-inch in either direction.
Also note that as weight is added to the tires, fuel effeciency is negatively impacted, as is the vehicle's ability to go from 0 to 60 miles per hour.