Normally the Google Shopping Ads on mobile search are in a carousel where you scroll horizontally through the results. Dan Perach shared a screenshot with me on LinkedIn of this being tested in a vertical format as well.

Here is the screenshot from Dan showing two product listings one, on top of the other:

Here is what I see for the same query:

I am not sure if this is new, it might be or this test may have slipped my mind.

Forum discussion at LinkedIn.