You can adjust the clutch-pedal engagement point by lying on your back, twisting your body into a pretzel, and sticking your head under the pedals. The clutch pedal mechanism hooks to a rod that screws in and out of a yolk--the interior side of the clutch master cylinder. Loosten the locknut and adjust the rod slowly, twisting it out (increasing the length) will bring up the friction point. More in the vfaq about this
here.
You may want to check for leaks in your clutch slave cylinder, which is attatched to the tranny. I had a similar problem that was alleviated by adjusting the rod and then replacing the slave cylinder. See if you can get smoother disengagement/engagement by pumping the clutch pedal. If so, it's a sure sign that one of these cylinders are wearing out.