Sceptre monitor and Mac mini resolution issue

Is there any way to fix the resolution with my new monitor? It is a Scepter E205W-16003R. I have it connected via HDMI cord and it only has two resolution settings available - 1280 x 1024 and 1024 x 768. Both are blurry and do not use the full screen. The second one is slightly more usable than the first, but it's not an acceptable option either.

This is my first Apple/Mac of any kind.