In my opinion, no, it would not be better to have 1 larger bathroom in place of 1.5 baths.
An appraiser will add value for that extra half bath - not add value for a "larger" single bathroom.
If you have no plans to move, and this is an "improvement" you want to enhance your life in the home, that's one thing, but...........from an investment standpoint, that extra half bath is a plus.
Maybe a local agent will have a different opinion, and i will always defer to a local agent!!
In my area a home with only 1 bath is not as attractive to buyers as a home with 1 1/2 baths.