I'm pretty sure I've seen this posted before, but can't find it to give it a bump. It's an issue that I've also brought up to our onboarding team as it is quite a pain point. It can get quite annoying that spaces and projects within spaces are all arranged alphabetically. We have to add numbers to the front of the names to set priorities, which just isn't a good permanent solution (as priorities of projects can change). There should be a way to be able to drag spaces and projects within spaces and order them in a way that makes better sense than alphabetical.
If someone can find the original post about this and link it, I'll happily go in and + it.