As far as I know, Jake is more of a shapeshifter than a stretcher. Jake can change size, for instance, while Plas has limited elasticity.
However, Plas has much better offense potential and functionality, he's much more adept at specific transformations and I swear, the dude can turn into a functioning bicycle.
But there's that one gif where Jake transforms into a car, eats Finn, and rather than end up in Jake's belly he ends up in the transformed driver's seat. What the fuck is that