If your MacBook Pro is getting the rated speeds that you are paying your ISP for while connected by wireless to the AirPort Express then there really aren't any configuration settings necessary for the MBP or the Express.
Your iPhone does not have the same antenna design as the MBP. It would be normal for it to not get the same bandwidth as the laptop does, especially if it is being used in another room or floor from where the base station is located.
The only thing I can think of is, if not already running iOS 7.x, to upgrade your iPhone to do so.