Mood board projects display images in a grid view when you first open them. By default they use the pinboard layout, meaning the size and shape of the images is determined by the size and shape of the original images. You also have the option to display the grid view as all squares, rectangles, or portraits. 

To change the grid view layout from the MOOD BOARD control panel, click on DESIGN and then click on LAYOUT. You will see the available layouts. The same layout is used for all of your projects. The one being used is outlined by a teal box. To change the layout, click on one of the other layouts and then click on SAVE CHANGES.