Bleh.. Yeah that is definitely far from ideal. For one, the unit has very little spacing from the wall. Far less than it should for good airflow. For two, the unit is blasting heat directly up at the ceiling. The hot air is just bouncing off and back down into the unit.
http://www.thermopride.com/pdfs/PremiereACISManual.pdf check out page 5. It needs to get relocated. The heat buildup is going to destroy that poor compressor eventually (if it's not already seriously damaged). If you have trouble talking the management into getting it relocated, or if it's going to take some time for them to get to it, I would go ahead and construct a simple cardboard duct to vent all that exhaust outside through that screen. Maybe cut up some nice thick cardboard boxes and assemble with duct tape. Have the exhausting air hit a 45' angle or less and send it outta there through that screen. It's not an ideal solution by any means but it will give that poor abused compressor a break and maybe your apartment some much needed cooling. Good luck!