Column[{Panel["Panel 1"], Panel["Panel 2"],
Mouseover[Panel["Panel 3"], Column@{Panel["Panel 3"], Panel["Extra Panel"]}],
Panel["Panel 4"]}, Spacings -> {0, 0}]
Or
Column[{Panel["Panel 1"], Panel["Panel 2"],
Dynamic@If[CurrentValue["MouseOver"],
Column@{Panel["Panel 3"], Panel["Extra Panel"]}, Panel["Panel 3"]],
Panel["Panel 4"]}, Spacings -> {0, 0}]