That's why I was asking if all I needed was MySQL 5.7, but it needs to be also set to:
Those are the defaults for Innodb on MySQL 5.7+ so they should be set regardless of the host if they note that they support MySQL 5.7.
Do you have any hosting companies that might allow this?
Any budget VPS will allow for this. I'm unsure why you said your VPS is too expensive. They're basically the same cost these days with cloud hosted VPS. For example Vultr offers $2.50/mo VPS packages that'd be plenty sufficient for a website. I'll break down the pricing for example below.
SiteGround StartUp - $0.33/mo for 3/mo then $11.95/mo with 50% off so $5.97/mo (if renewed for 12mo)
1 Website
10 GB
Vultr - $2.50/mo
1 Instance
10 GB
Both have your standard 1 click installs of various things. Vultr is a VPS so you get your own web server instance that you deploy. You can point as many website registers to it as you want. It's significantly cheaper than SiteGround StartUp once that 3/mo deal runs out. You could deploy multiple Vultr instances for that same price. You can use whatever MySQL version you want in your VPS. There's other great VPS hosts out there as well like Linode and DigitalOcean.
I don't really recommend hosting on anything other than VPS, but I prefer having completely control over my hosting environment. The shared hosting packages are attractive due to their prices, but those are typically only introductory deals like you see above. When those deals run out they're no cheaper than VPS and VPS lets me configure my server to do whatever I want. The major benefit of shared hosting of course is the simplicity of it which is best if you're handing the site off to a client.
Aside from that I don't know what to recommend. I don't host websites nor have clients as I'm entirely full time on Community Builder. I'm not sure why you're having issues on SiteGround either as we've several other users using them just fine. Maybe it's simply due to the server they put you on? I'm not sure. I suppose you could find hosts with prices that fit your needs and simply contact them to see if they either have the supplied configuration on MySQL 5.6 or offer MySQL 5.7.