I think it would help if we actually had a list of the sensor sizes we are talking about - I thought 1/1.8" was 7.18x5.32mm (based on a chart I found on the web) but then Canon and others refer to APS-C size, but their sensors are smaller. Anyway, guessing that the Olympus you have shown has an 8.8 by 6.6mm sensor, (2/3") that's a diagonal of 11mm. Now, a 16 by 12 gives a diagonal of 20mm, more or less twice the size (you'd better check my sums...).
Anyway, if the Camedia fitted in your pocket, then if you want the same relative zoom ratio/ aperture, then I'm pretty certain a larger version won't, the lens would probably need to be twice the size - look at the size of the glass cf the extension tube mechanism in the pictures - and for a larger sensor (bigger glass needed and to get the same apparent view you'd have to shove it out further - either more short tubes, or longer tubes.
Why not draw up a specification of what you want? Then we could interpolate the sizes between what is available, and maybe determine if it is physically possible, at a price that some may be prepared to pay. (i.e. more or less anything is possible, if you can pay for it)
Best wishes,
Ray