Camilo

Here's the trade off and, IMHO the major decision criterion: head tube length and how high or low you want your handlebars.

There's a lot of range for saddle height and even a decent amount for setback. There's a lot of range for stem length too. So seat tube and top tube length and seat tube angle can be adjusted for quite a bit. But there's not a lot of range - either up or down - for stem height, given any stem angle. Maybe 40 mm either way (35 - 40 mm is generally the maximum spacer height under any stem).

In general, given a specific model of frame, aside from seat tube and top tube length differnces, the larger frame will have a longer head tube vs. the smaller frame. So if you're challenged to get the bars high enough for your fit and comfort, you should opt for the larger frame. If you dont have that issue and/or really need your bars as low as possible, go with the smaller one.

If you're in the middle, ride both and just feel which feels better. The smaller one might be a a little lighter and quicker feeling, the larger one, maybe more stable.

My experience is that I need my handlebars higher and opt for larger frame with a shorter stem and less saddle extension, if presented with two that might work OK. Others, especially younger and stronger, more flexible riders, would have the opposite opinion.