I'm not sure if you get to choose the speedo you wear. In high school my brother had to wear the "team speedo".
If you get to choose your speedo then they have many "pouch" speedos out there to buy. I got one from Ergowear and when I lay on my back on the beach my bulge casts a shadow on my leg because it holds everything up and out.
If you have to wear a certain speedo then I suggest wearing it around the house with a sock in it. My brother did that and it looked funny but it stretched his team speedo and then he felt more comfortable during competitons. That will stretch it out in the crotch and then with the added give it should give you room for the boys to sit and not be smushed against your body.
You may also want to look into swimmers jock straps. Some guys swear by them to enhance their look and comfort.
Jake
ergowear swimwear is nice, bit of a pouch but not too pronounced. can still wear anywhere...