being a very basic gain stage the RA-1 is actually easy to upgrade but you will be changing the character of the sound by doing so.
Possibilities would be adding a dedicated regulated power supply ,class A biasing of the output , changing the volume control to a higher qality unit and maybe replacing the input caps.
The strength of the grado , some say weakness,is the opamp used which specs out at 70 ma current drive to the headphones and since Grado cans like current it is a good match.Plus the slightly soft voicing of the passive parts/opamp is geared specifically towards taming the grado rising top end
hope this helps