Yes, not by much though. Both companies' rings used to be about the same size, but times have changed and moves such as the Chokeslam, FU, Last Ride, F5 and Angle Slam take up more ring room in order to be performed properly.
Here are the exact measurements of WWE and WCW rings. A WWE ring is 20'x20' and a WCW ring (same size as original ECW ring) was 18'x18'. Both WWE and WCW rings platforms are 40" off the ground. The WWE top rope is much higher than the top rope of WCW rings. The WWE uses bull rope for ropes and has an all steel frame construction, as well as sheets of plywood for the wood flooring. WCW rings had steel posts, but the rest of the ring's frame and structure was all wood planks. The flooring was wood planks as well. WCW used steel cable for ropes (much tighter than WWE) wrapped in a hydraulic or gasoline pump hose. Because most pressure was put on the posts by the tighter cable in a WCW ring, thicker turnbuckles were used in the corners.
I hope that answers your question more from somebody that is actually in the industry..
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