This is the general consensus among those who are able to overlook the utilitarian purpose of a bag.
I am not one of those people.
To me, the size of the bag depends STRICTLY on what is going inside it. Call me crazy. I'm the same height and weight as you are and I carry a great big patent black tote bag around with me most days. Why? Because I need to! What other option do I have to carry my stuff to and from classes? I think it's silly when I see women on the train carrying around a dainty little purse and then carrying all their files and books and other work items in a clunky, ugly shopping bag. It makes no sense either practically or visually. They look like unusually well-off bag ladies, and honestly, it just overwhelms them even more than if they just carried a single large, sleek, streamlined bag.
I generally try to limit what I bring with me every day. Most women have the problem of trying to carry too many unnecessary things with them. Once you've pared down the essentials, just find the smallest possible bag that accommodates them. That goes for tall women too. Who wants to lug around a gigantic satchel just to carry a wallet, keys, and some lip gloss?
To resolve the issue of appearing overwhelmed, I kept my bag very classic, structured, and sleek. That way people notice me and not the gigantic weight on my shoulder.