In the closeup pic, if that muddy line on the side under the word Salunga is the heigth of the water, then IMO the water isn't geting up high enough to go over the top of the casiing. The water would have to get up on the side of the cap to 3/16" of the top of the cap to go over the casing; the cap is about 1/4" aluminium. That assumes the top of the casing is cut off square, many are cut off with a torch and are uneven.
To remove the cap, there are three set screw type bolts or allen wrench set screws in the side; I think I see a bolt broken off in the closeup pic. If you can't loosen two of them, the cap will be a bear to get off and you'll have to dig out blacktop to get a drill bit in to drill the bolts out. New same type caps have SS bolts now.
Frankly, if it were mine, I wouldn't bother doing anything but parking the car back from it and watching for oil leaks from the car; unless watching it during rain, the water got up closer to the top of the cap but..
To answer your question, you can dig it out/up and get the cap off and use a Fernco fitting and a piece of 6" sch 40 pvc and extend the casing up some, the fitting will be about 8" IIRC and then put a new cap on it like you have. I"'d then use some blacktop patch or mortor to fill the gap up to 'grade' around the fitting. Go to a pump supply or plumbing supply house and look at the length of the Fernco before you do anything, that will tell you how deep you have to dig down (maybe 8") to get it on and thighten the clamp AND how high above the casing it will be and then how much 6" pvc. I wouldn't want it sticking up there myself, and as I said, I'd leave it. Or, I'd replace the cap with a vented sanitary well seal but they have 4 bolt heads sticking up to trip over and shovel snow around, since I see PA on the cap. The seal isn't a good idea... your cable is in that area that kicks out of round adn I dn't know how you could protect it from damage. Bad idea, scratch the sanitary seal all together and leave it alone if the water doesn't come up to within a 1/2' of the top.
Gary
Quality Water Associates