The only ways to signficantly increase the KE for any given bow setup is to increase draw weight or get a bow with a faster speed rating...though the latter usually means a compromise in forgiveness to some level because of the resulting shorter brace height or a more difficult draw cycle in case of the former.

Increasing arrow weight without changing the rest of your setup at all will not significantly increase your Kinetic energy and therefore will not greatly improve penetration. However, if it is done in conjunction with increasing draw weight or changing the choice of bow then it can have a significant impact....more so than just changing draw weight or changing the bow style by itself.

What I see most short draw archers now doing is switching to some of the Bowtech lineup of bows simply because they produce more energy in comparison to just about anything else out there. They still offer relatively forgiving designs in terms of brace height, axle to axle length, etc.. but the trade off is in the draw cycle. The draw cycle is much stiffer than most of the other cams on the market so that " 63 lbs" might feel more like 70.

Switching to a cut on impact head will not help if your shots are marginal or if they hit bone....and if you do make the correct shot placement then it does not really matter what head you choose to use. However, considering your choice of an ICS carbon coupled with your much shorter than average draw length, a replacement blade broadhead like a Muzzy or Thunderhead or a Cut on Impact head like a Magnus, etc... would probably be better suited for effectively taking game.