So, I have a screenshot to share and then I'll explain further:
First, open your Settings in Battle by hitting Escape. Then go to the Audio Tab.
Next: You want to set your "Sound Preset" to "Custom". This is the Yellow area on the picture.
Interface Volume is going to handle the sounds your ship makes when Consumables are used, you change your speed, and also your Collision Warning.
If the Music and Other Sounds are too strong and are drowning out the Collision Warning, you should start turning the other sounds down until they are at a comfortable level, and the Collision Warning sound is loud enough to be heard over them.
You probably don't have to turn everything Blue down as far as I did, but it's a decent place to start. You can turn up things you feel are too low as you experience them and want them louder.