I am not sure about the Tacoma, but can describe the adjustment for a 95 T100 which should be similar. On the T100, there is a threaded clevis that has a pin which connects the Master Cyl operating rod to the peddle arm. On mine, a 14mm wrench holds the hex at the back of the clevis and a 12mm wrench loosens the locking nut. Once the locking nut is loose, turn the operating rod counter clock wise to thread it further into the connecting clevis. When a bit of free play is felt in the peddle travel, retighten the locking nut.

Hope this helps.

Best regards,
Terry