The sump size is really a function of two things. One, will it hold and catch enough water during a power failure to support it, while holding enough water normally to flow without constant top off. If your water level is a quarter inch above your pump, and anything higher causes a flood, you've got a problem.
Two, is it large enough to fit, comfortably, all the necessary equipment to run the tank -- your heater, any reactors, sterilizers, skimmers, etc. you may want to put in there, possibly a refugium, biological sections, etc.
These two factors give you the minimum size you can put on the tank. If it can hold everything, and your water level is adequate for good filtration (although an ATO is a good idea, period), your sump is good. Anything larger just gives you more water in the system, more margin for error, and -- in a freshwater tank -- more time between topoffs.