Align objects to path with existing spacing

Text on Path effects are a very imperfect thing. The way the letters get rotated as they follow a curving path can yield a jumbled or even wacky looking end result (especially if the letters are big in relation to that target path). Stock letter spacing (or tracking) in a font will be thrown off when a text object is applied to any curving path. That's just a matter of geometry.

One possible solution: turning the type object into an Art Brush and applying that to a path. This is not a perfect solution, but it is one where the spacing between the letters will be maintained. The letters themselves will bend in relation to the path rather than merely rotate. In some cases it delivers a more desireable effect. The Width tool can deliver some really dramatic looking effects. I've done things like adjust the lettering I turn into an Art Brush to match the path length of the target path to get more fine tuned results.  

displaced,

Given what you have, and that you prefer to set the spacing freely (between outlined letters), you may like the one and only 1 STEP BLEND FAKE.

When you wish to have undistorted objects distributed along (part of) a circle or another curved path, you can use the 1 step fake blend, with some preparation to make things fit together:

1) Start with your set of outlined letters placed with the spacing you made, forming a straight horizontal line as they would be on a straight path;

2) With the centre Reference Point selected in the Transform palette use the X values of the first and last objects to establish the total width (which must be measured centre to centre) for the next steps;

3) Select the curve you wish to align the text to, copy it in front of itself if you wish to retain the actual path behind the objects, then lock/hide the original so you work with the copy, then cut the path where you want the centres of the first and last letters and establish the total path length, you should be able to see it in the Document Info palette;

4) Adapt the size of the objects 1) or the path 3) so that the width and the path length become identical; you may use the Transform palette and multiply/divide the value in the W or H box by the quotient of the two lengths (just add * or / and then the number) and press Ctrl/CmdEnter to retain proportions;

5) Object>Blend>Options>Specified steps, set the value to 1 and set Orientation to Align to Path;

6) Select all the objects and Object>Blend>Make, create a copy just in case (now you have some distorted intermediate shapes between the letters, but not for long);

7) Select the Blend from 6) and the cut path from 3) and Object>Blend>Replace Spine;

8 ) Object>Blend>Expand and Ungroup, and delete the distorted intermediate shapes;

9) Enjoy.

You can see a somewhat similar/different use here (with 1 and 2 digit numbers instead of letters and spread evenly along a part of a circle) showing the use of the temporary distorted shapes.

https://community.adobe.com/t5/illustrator-discussions/step-text-on-a-circle-double-digit-numbers/td-p/13334995

I understand that your text is outlined, is that the case?
If it is, you won't have access to the font options, because it's no longer a font

when it's still a font, all the options will be available if you click on the word "character" on the top bar

Or the properties panel

Obviously you will need first to type your text on a path

Hope it all makes sense!

Text on a path.

And then you can use the Tracking and Kerning settings in the Character panel.