While you can't zoom and the vertical adjustment is limited (which sucks because you can zoom in Audition)` there are still a few more options that might help increase the vertical size of the tracks window.
First, to adjust the vertical space of each track in the timeline place your selection tool over the line between the tracks over on the left side of the track where audio controls are and drag the track bottom up or down. You can also increase the workspace of the timeline by dragging it up using the same technique, or if you have another monitor put the timeline over there and make it much bigger.
Second, use the tilde key to expand the entire timeline window. It's the key to the left of #1 key at the top left. Hit it again to return. It will expand any window that is selected. I use this one to get a better look at the waveform. You can also drag the tracks to make them larger.
Ann, good suggestion, I have since handed in a feature request for this.
Not as neat as the Vertical & Horizontal Zoom in Audition, you can, however, come a bit close, by using the Horizontal Zoom for the Timeline, and then going to the Audio Track's Header, where you click-drag on the separator bar, to expand that Track vertically.
That Audition Vertical & Horizontal Zoom in Audition is great.
Duplicate the audio track, increase the gain, and then disable the track. You can still see the waveform without it affecting the mix.