You can use the tpt.setfpscap(2) command to force the simulation to run faster than 60 FPS. Another problem is that most often the limiting factor is not the fps limit, but the speed of the simulation itself (all the calculations that the computer needs to perform to simulate one frame), and this speed is hardly possible to significantly increase by reducing the quality of the simulation or anything else.
Also one thing to note is that we're technically limited. The game is not multi-threaded so at some point it will reach a maximum in resource allocation and not go any faster.