With a single disc the bigger master cylinder will make the brakes worse in that you will have to squeeze the lever harder down to the reduced ratio of master cylinder area to caliper piston area. A smaller cylinder than stock might be better giving the same braking with less effort at the lever in exchange for a little more lever movement.
I think it's generally accepted that BMW were a bit conservative with Master cylinder / caliper ratios something about not wanting it to be too easy to lock the front wheel (some chance).
Personally if sticking with a single disc I would go one size smaller on the master cylinder.
It's normal though to use a larger master cylinder piston with twin discs otherwise the brake lever may come back too far and if you are going to do this you will need something like a 15mm master cylinder which would be truly awful with a single disc so I think you would have to do both changes at the same time.
Not sure if this table includes our size of caliper pistons but it gives you an idea how much difference a change of master cylinder makes to the ratios. The chart comes from this web page
http://www.vintagebrake.com/mastercylinder.htm where the author recommends ratios in the range 23:1 to 27:1 for opposed piston calipers.
Having done the sums on my single disc 36mm ATE caliper with a 13mm master cylinder we are way below at a ratio of 15.3:1 which is why we have a very firm brake lever but have to pull relatively hard before anything happens.
The 12mm master cylinder fitted to 81 on single disc bikes gives a slightly better 18:1
