/run C_CVar.SetCVar("nameplateShowOnlyNameForFriendlyPlayerUnits", 1)
Simply enter the command into the chat window to remove the bulky colored nameplate frame from friendly players, or change the 1 to 0 to restore it. Keep in mind that nameplate addons such as Plater and Playnator may impede these settings with their own functionality!
No Nameplates
With plates disabled, names are shown in a faint blue, which can be very hard to see.
Full Nameplates
Enabling nameplates makes names clearly visible, but adds blocky colored bars which can limit visibility.
Names, No Plates
By using the variable, the colored plates are hidden, while character names remain more clearly visible.
Depending on your role within a group and how your UI is setup, these plates could still be useful, so there are pros and cons to each setting. The full frames make it easier to tell exactly who is standing where and the colored frames help better distinguish players from one another, but they can also get in the way of seeing other things, particularly with larger group sizes.
On the other hand, players who rely more on party frames for healing, aren't capable of healing, or just aren't concerned with the state of their party members, turning the frames off can create a lot more visibility, while still making friendly player names more visible, which can be very helpful for precise positioning.
The setting only affects friendly units, so enemy nameplates may still be shown normally.
Currently, this option is only available through entering the command into your chat box. It is a persistent setting though, so it should remain through reload or logout, rather than having to re-enter it every time.
