You need to actually test for accuracy with your ammo/ gun setup now. You should at least shoot it, preferably in a machine rest, at 25 yards or greater. Unless you actually know how your settup performs now, you don't have a clue whether or not you need more accuracy. There are way too many people who spend way too much money on parts to "upgrade" their guns, when they have no real idea how the gun/ ammo shoots. Also, if you shoot poor ammo, a match grade barrel won't help.
OP Should definitely try this first, and if you don't own a machine rest which can cost over $500 the best way to do it is to get a regular pistol rest, put a folded towel in the V, and have it draped down to where the but of the grip would rest , but don't let it touch there and only let the palm of your hand rest on that spot, but just enough so there is no wobbling up and down.
I've tried this before without any kind of padding by just resting in a pistol rest and I actually got tighter groups when I shot freehand, because when recoiling the pistol will not settle in the same place every time and this can throw your groups off.
You also need to be consistent with how you hold it in the rest or your results will be all over the place.
If you can borrow or afford a mechanical rest then that would be the best way, with the best results by eliminating all human error.
It has been my experience that the M&P line have not been as accurate as Glock's or other striker fired pistols IE: HK, Walther ect:
Also remember these pistols are for defensive purposes, and are plenty accurate for that purpose with a few ridiculously inaccurate specimens I have seen in some cases.
There is no good reason to spend all kinds of $ to make one more accurate that will just be submitted to evidence and you may never get it back sometimes even if justified.
This is why I leave all my carry pistols stock.
But also remember I am just some anonymous hand job on the Internet, so what do I know? Same goes for everyone.
Sometimes you just have to see for yourself.