Welcome chonger! Good to have you here and asking questions, lots of wisdom to extract from these old knuckle busters!
What do you have in mind for your Massey?
If you are looking for a working tractor, something reliable and long lasting, I would not make any drastic changes to the engine. The best you can do is get a shop manual, study the specs and tolerances, find a reputable machine shop, and put it back together by the factory specs.
About the only improvement you can make would be some port matching and polishing.
Here's the problem... Everything you are looking to do for increasing the power has limitations on an engine like this. This engine, and the tractor it goes in, are designed for low RPM use. The cam has very little overlap, raising the compression will result in detonation problems. Changing the cam grind will raise the RPM of the power band. Raising the power band takes away from the bottom end torque, which is what you want for a tractor. Raising the RPM makes for a dangerous condition, as in broken clutches, transmissions, large moving parts that you are straddling!
Lengthening the stroke will give a little more power, but again, you will be making drastic changes. It takes a lot of research to be successful with such an endeavor. A big disadvantage to offset crank grinding is you will be welding up journals, and grinding through the hard surface. That makes for a short lived crank in real world hard use. You will also find this kind of work is very expensive. Not like dragging a small block Chevy out from under the bench and ordering what you need online. Tractor parts are one-off type work, special order, and you get to do all the engineering. If it's ordered wrong, you still gotta pay for it!
Now if you are looking to build a puller, something that will only get run for show, and you take the proper safety precautions, you can build something as radical as your bank account will allow! But before deciding on what you want to build, I would get with some experienced pullers, see what they like to build, what parts are available, what combinations have been tried and proven. No use making all the mistakes over again!
There are lots of project tractors out there, available at near scrap prices. I don't know if your tractor is a preferred model for pulling. Being a flat head, I doubt it. That alone makes repairing much more difficult, and limits the performance.
There is a puller section down below, if that is the direction you are wanting to go. Might talk to them anyway before jumping into anything that is beyond stock.
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