0201 and The Blind Via
0201 size passives can help drop down a PCB form factor, but to really get the most compression, you need to get rid of all of the traces.
One way would be to put little transceivers on each lead of the part. In fact, if you did that, you wouldn't even need a PCB. You could just dump all of the parts in a little bag. But, you'd then have to come put with a whole new protocol, a way of transmitting power, yada, yada, yada. Okay. In my dreams.
But, you can get rid of the traces - or at least hide them with blind and buried vias. (Note - don't even think about using open vias. Don't - even - think - about - it!!!) Get a real good board house and have all of your traces inside of the PCB connected to the pads with blind vias. You can scrunch that board down real good, or just use all the extra space for a handy, dandy ground plane.
Something to consider though: It's tough enough to build a board like this and rework is really, really icky. Make sure you leave enough space for assembly and be very careful to avoid problems that would cause rework.
Now on the planet Shrinky Dinky...