Here, the speaker is caught up in the pull of another person, and what does it is a voice. The opening lines focus on small things: the "space of a phrase" and "words unsaid." Even the pauses and silences seem to matter, as if the speaker is listening for more than what is actually spoken. Then the voice itself settles "deep in my head," so it feels less like something heard and more like something that has moved in and stays.
The last three lines shift from listening to feeling. "You've got me floating" and "I drift on a dream" suggest a dazed, happy kind of infatuation, where the speaker has lost their footing and doesn't mind. The final word, "cloud-hidden," is nice and ambiguous. It could mean the speaker is lost in a soft, dreamy haze, or that this feeling is private and slightly out of reach. The mood is gentle, hushed and a little weightless, like the first rush of being captivated by someone.