gnuplot: ylabels + ytics + LaTeX causes too much whitespace

reset
set term epslatex standalone size 5 in, 3 in color colortext # 5 in, 3 in is default
set output "output.tex"

#set autoscale
set xrange [0:11]
set yrange [0:pi]
set key right bottom
set key spacing 1.3
set xtics 0,1,10
set ytics ('$0$' 0, '$\frac{\pi}{12}$' pi/12, '$\frac{\pi}{6}$' pi/6, '$\frac{\pi}{4}$' pi/4, '$\frac{\pi}{3}$' pi/3, '$\frac{5\pi}{12}$' 5*pi/12,  '$\frac{\pi}{2}$' pi/2, '$\frac{7\pi}{12}$' 7*pi/12, '$\frac{2\pi}{3}$' 2*pi/3, '$\frac{3\pi}{4}$' 3*pi/4)
set style line 1 lt 1 lw 9 pt 0 ps 0
set style line 2 lt 3 lw 9 pt 0 ps 0
set xlabel 'Frequency $\omega$' #offset 0.0,0.5
set ylabel 'Phase $\varphi$' #offset 15,0.0
plot 'phasevomega.txt' u 1:(atan2($4,$3)) every ::(47*384)::(48*384-1) w lines ls 1 lc rgb"red" title 'Simulation data'

set output