You could hide the state changes if you put (setq org-log-into-drawer "LOGBOOK") in your init file. I don't know how to hide the CLOSED tag though. 

On Sun, Oct 26, 2014 at 11:32 AM, Maciej Kalisiak <mkalisiak@gmail.com> wrote:
When I do C-c t d (TODO -> DONE) or similar status change on a TODO item, it accumulates meta-data like:
  CLOSED: [2014-10-26 Sun 11:25]
  - State "DONE"       from "TODO"       [2014-10-26 Sun 11:25]
So each such item "blows up" on screen from 1 line to 3 lines.

I do want to collect this data, but I do not want to necessarily see it when I'm just marking things DONE... there is no value to me seeing this at that point.

However, in some situations, I wish I knew which, when I change the status, the metadata is added BUT the item remains collapsed. I'd like to have this always happen. Can anyone suggest how to achieve this?