I agree with Phil on this. I'd never recommend having a bass cab in a corner. In this scenario, assuming the cab's 30cm from both the back and side wall, you'll get something like a 15dB boost between 40 and 100Hz, which is too much boom. I usually recommend positioning the Monaco between 15 to 30cm from the back wall to reinforce the very low frequencies (depending on taste). Lifting the cab isn't going to deal with this, as you will get cancellation, but at a higher frequency than you need. If you lift the cab 30cm, for example, and it's positioned 30cm from the back and side walls, you'll get boom plus a nasty suckout at 300Hz, which will be audible. So, you have to be careful (although the low ceiling won't have much effect on the frequency response).
My advice would be to keep the cab on the floor, position it 12" from the back wall and well away from the side wall. As @Phil Starr says, put it where the guitar amp is. Then, if necessary, cut between 40 and 100Hz on your amp. Also, try not to have the cab directly behind any object that blocks the sound because that can reduce the level of higher frequencies reaching the audience. Good luck!