Using Ubuntu 20.04, with gnome-shell theme Flat-Remix-Dark.
You can increase text under desktop icons, but not independently - text size on the top bar, top bar menus, and desktop notifications will also increase. Edit the file gnome-shell.css which will be inside your gnome-shell theme folder, which may be a sub-folder of your applications theme folder, and change font size in this section:
Code:
/* Global Values */
stage {
font-size: 10pt;
color: #eeeeec; }
To prove it works, below are before and after screenshots when increasing font-size from 10pt to 13pt. Notice the panel width also increased to accommodate the larger font.
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