begin{equation}
begin{pmatrix}
dfrac{partial M_x}{partial t}\
dfrac{partial M_y}{partial t}\
dfrac{partial M_z}{partial t}
end{pmatrix}=gammabegin{pmatrix}
 M_x\M_y\M_z
end{pmatrix}timesbegin{pmatrix}
0\0\B_0
end{pmatrix}
end{equation}

documentclass{article}
usepackage{amsmath}
begin{document}
begin{equation}
begin{pmatrix}
frac{partial M_x}{partial t}\[jot]
frac{partial M_y}{partial t}\[jot]
frac{partial M_z}{partial t}
end{pmatrix}=gammabegin{pmatrix}
 M_x\[jot]M_y\[jot]M_z
end{pmatrix}timesbegin{pmatrix}
0\[jot]0\[jot]B_0
end{pmatrix}
end{equation}
end{document}

documentclass[a4paper,12pt]{article}
usepackage{amsmath}
begin{document}

begin{equation}renewcommand{arraystretch}{1.3}
begin{pmatrix}
frac{partial M_x}{partial t}\
frac{partial M_y}{partial t}\
frac{partial M_z}{partial t}
end{pmatrix}=gammabegin{pmatrix}
 M_x\M_y\M_z
end{pmatrix}timesbegin{pmatrix}
0\0\B_0
end{pmatrix}
end{equation}

end{document}

documentclass{article}
usepackage{amsmath, nccmath}
usepackage{esdiff}
usepackage[math]{cellspace}
setlength{cellspacetoplimit}{2pt}
setlength{cellspacebottomlimit}{2pt}

begin{document}

begin{equation}
medmath{begin{pmatrix}
diffp{M_x}{t}\
diffp{M_y}{t}\
diffp{M_z}{t}
end{pmatrix}}=gammabegin{pmatrix}
vphantom{medmath{diffp{}{t}}} M_x\ vphantom{medmath{diffp{}{t}}}M_y\ vphantom{medmath{diffp{}{t}}}M_z
end{pmatrix}timesbegin{pmatrix}
vphantom{medmath{diffp{}{t}}}0\ vphantom{medmath{diffp{}{t}}}0\ vphantom{medmath{diffp{}{t}}}B_0
end{pmatrix}
end{equation}

end{document}