While I don't know what Outlook looks like, it sounds as if you may be using the "Basic week" and "Basic day" views that do not have a time axis down the left side of their respective calendar. Have you tried "Agenda week" and "Agenda day" views? Those can be specified on the "Available views" configuration property on the "Extra" tab of the properties panel.
While that may not be exactly what you are looking for, both of those views do have a time axis down the left side and put each event in the appropriate time slot or slots .... and show appropriate white space between two events with available time between them.
The "Day" view will render this.