To enable use autoHeight: true. At the moment works only with 1 item on screen. The plan is to calculate all visible items and change height according to heighest item.
//default settings:
AutoHeight.Defaults = {
    autoHeight: false,
    autoHeightClass: 'owl-height'
};
          $('.owl-carousel').owlCarousel({
    items:1,
    margin:10,
    autoHeight:true
});