In the case of spreadsheets, a huge amount of the size is from format and function information. How bad it is depends on the exact formats, functions and type of file.
I’ve just run a little test:
In my Desktop I had several data-export flatfiles (values separated by tabs). I imported one of them to Excel and saved it several times.
Original size, txt: 4.75 KB
.xls: 53.0 KB
.xlsx: 14.9 KB
Now add the autofilter (don’t actually filter anything):
.xls: 56.5 KB
.xlsx: 15.0 KB
The differences in size are linked to format information which the txt doesn’t bother include and the excels don’t really need, and to differences in how data is stored in xls vs xlsx. I remember one isntance when a coworker sent a large Excel file with multiple colors, conditional formatting, filters… which took half an hour to download, when he only wanted us to see three lines. The rest of the team allowed me to rip him a line of holes up one side and down the other for sending that monster and not just the relevant data.