To see the additional options you need to run the Emulator in a separate window (process).

To do so go to File...Settings... and then choose the following.

You'll need to uncheck the Launch in a tool window option.

After you do that and restart Android Studio and start your emulator, it will run in a separate window and you'll see the options you want on the ellipse menu item on the side of the emulator.

Here's my Android Studio version info:

• Android Studio 4.1
• Build #AI-201.8743.12.41.6858069, built on September 23, 2020 Runtime version: 1.8.0_242-release-1644-b3-6222593 amd64 VM: OpenJDK 64-Bit Server VM by JetBrains s.r.o
• Linux 5.4.0-52-generic
• Current Desktop: ubuntu:GNOME

Edit: September 2021

Now, since Android Studio Arctic Fox (2020.3.1) you can enable that in settings:

And you have it there:

Old answer

TL;DR

Currently, you can't use

Why

Base on documentation:

https://developer.android.com/studio/run/emulator#limitations

Limitations

Currently, you can't use the emulator's extended controls when it's running in a tool window. If your development workflow depends heavily on the extended controls, continue to use the Android Emulator as a standalone application. In addition, certain virtual devices—such as Android TV and foldable devices—can't be run in Android Studio because they have specialized UI requirements or important functions in the extended controls.

After hours of struggling, I finally started my emulator using terminal-command and I was able to see the extended controls. Followed this answer, https://stackoverflow.com/a/45201495/6869086