The company says the new overhead compartments will allow passengers to store more hand luggage on its side.
The bins will be fitted to some 737 aircraft from the end of this year, the company said.
The new design will mean a 2in (5cm) reduction in headspace for passengers, it said, but air vent and light controls will be easier to reach.
The loss of headroom may be of some concern to taller passengers, some of whom already struggle with the amount of legroom in economy seating.
The new bins can be retrofitted to any of the "Next-Generation" 737s, of which 5,000 are currently in service.
Boeing says the balance of the bins has been shifted so they close without the need for a catch or the "bin assist mechanism" currently in use.
Travel writer Simon Calder told the BBC: "For the long-suffering passenger, this is mostly good news. By charging for luggage, the low-cost airlines have incentivised us to take everything on board.
"And guess what? There isn't enough room, so we've had to check in stuff at the gate.
"So this should help with that problem."
Boeing said the bins should speed up boarding and that "passengers will benefit from decreased anxiety about finding space for their carry-on bag when boarding a flight".
Alaska Airlines and Delta Air Airlines are the first two operators to place orders for the bins for their 737 fleets.

The weir, built as a permanent wooden structure to catch fish as the tide ebbed, was found by chance on the shore of Southampton Water in 2005.
Radiocarbon dating has shown it was built in the 8th or 9th centuries.
Experts from Exeter University said the results were "thrilling" and provided new insights into the process of coastal erosion in the area.
The 70m-long (500ft) structure was found by chance close to the Fawley oil refinery by archaeology students more than 10 years ago.
Tests showed the structure was built between 680AD and 896AD.
Marine archaeologist Dr John Cooper said the discovery has allowed historians to map changes to the shoreline over 1,000 years as it was covered by advancing saltmarsh which later retreated, gradually exposing the structure over the past century.
"It has highlighted the level of erosion in Southampton Water over the last few decades. There are factors like sea level rise and dredging carried out but it shows how dynamic coastal change is."
He said the wooden structures, once exposed are vulnerable to shipworm and are likely to continue erode away.
Some of the posts and wickerwork have already vanished since the initial find in 2005.
Boeing has shown off its "space bins" that can hold 50% more luggage than existing designs.
[NEXT_CONCEPT]
A timber fishing trap exposed on the Hampshire coast dates back to Saxon times, it has been confirmed.