Excel is not and never has been a true wysiwyg program; printed row heights and shapes have always been short in comparison to their widths, regardless of the printer.
You can work around that by increasing the heights to compensate; typically by around 5%. For a more precise adjustment factor, insert a 4in square onto a worksheet, then print it (even to pdf). The relative differences between the height and width will tell you what adjustment factor to use - which may vary between Excel file formats, versions and printers.