To the OP: I'm 5'-5" and dive a singles setup with a 7' hose. I have to admit, on about a third of my dives, it's annoying long. I haven't pinpointed the reason I only notice it on some my dives and I really should figure it out.
If the hose is too long, it can become a nuisance sometimes when I try to turn my head to the left, something tugs back and keeps me from my typical range of motion. I realized that the hose creates a huge loop behind my head and catches the valve on my cylinder (I always have it tucked under my can light). I end up having to take the reg out of my mouth and re-situate the hose...annoying. I've tried tucking the hose into my waist...or even tucking it under my knife (in addition to my can light). While that usually works, I hate having to do that (extra effort to pull + deploy long hose and more likely to forget to tuck my light cord under my long hose). I haven't yet tried a 5' hose...and am not sure that I will, but thought I'd share my experience with a 7' hose.
As others have suggested, I do think you should talk to your instructor about your situation. If I were in your shoes, I probably would try a 7' hose first and then see how that works for you. No reason to deviate from the "norm" until you know that the "norm" doesn't work for you.