I mean... we've been adding a lot of features recently with regards to things like xds, changed nanopb to upb, moved from using C to C++, adding abseil as a dependency, and others. I'm not completely surprised that this would result in a size increase. Similar things have been noted with the python extension for instance, although I'm still not sure if it's a similar problem:
https://github.com/grpc/grpc/issues/21958
Now, sure, it's a fairly massive size increase, but we've gathered more and more dependencies as we're adding new features. That may be the sort of things to expect as you increase the feature set and dependency set.
Getting a linker map of what exactly is in there could be helpful to see if there's really something out of whack, in case there's really something that shouldn't be there, but I'm not necessarily very hopeful in "what we can do" to address this issue in case there isn't anything out of place in the binaries: the monolithic nature of grpc means we can't really "opt out" of these new features.