Making everything as simple and obvious as it can be is key to a fluid performance.
I feel a small indent on any wrapped lines of text would help with this on any relatively new song.
This would be very complicated on my end and probably not worth the high risk of introducing bugs into the text rendering. The approach I generally take is to add line breaks to the lyrics so they don't have to wrap. Then you can control where the lines break, and you could add your own indents at that point if you want.
Then you can resize the text to be as large as can be without wrapping (or do some back and forth between larger text size versus manual wrapping to get the optimum balance).
Fair comment, thanks