That's one thing about Gigabyte motherboards: for dual channel to work, you have to place them side by side which gives very, very little clearance between the two RAM modules. I have the same setup too, but I guess heat is not much of an issue because my PC is still ticking after 3 years.
Is that fan and heatsink stock? I can barely see the sticker that's in the middle of the fan, but it looks like Intel. If so, that's a huge fan Intel has provided. That's good for cooling.
The only thing you have to be concerned about is the length of the cables you have in there. If they're too short, there's nothing you can as far as rerouting the wires goes. My wiring and cabling is similar to yours, but airflow is not compromised. My system is still running cool so no worries.