The White House yesterday dismissed as "not very much to our liking" a budget compromise being negotiated by House-Senate conferees on Capitol Hill.

Although Senate Republican sources said the White House position could seriously complicate chances of reaching an agreement on the tax and spending blueprint for next year, some Democrats indicated that progress is being made in behind-the-scenes bargaining by budget conferees.

The White House "has been throwing stink bombs at every opportunity," a Democratic budget aide said, contending that the conferees are getting closer to agreement.

But "it doesn't strike us as very close to what the president wishes," White House spokesman Larry Speakes said when asked about the suggested outlines of a compromise, which includes higher taxes, more domestic spending and less military funding than Reagan wants.

White House views had been solicited by some Senate Republicans who are wary of inviting an attack from Reagan that would embrace the Republican-controlled Senate as well as the Democratic-controlled House.

Some influential Democrats were also criticizing the plan.

The chairmen of four major House authorizing committees--Reps. Carl D. Perkins (D-Ky.) of Education and Labor, John D. Dingell (D-Mich.) of Energy and Commerce, James J. Howard (D-N.J.) of Public Works and Transportation and Fernand J. St Germain (D-R.I.) of Banking and Housing--objected in a letter to a proposal to leave recession relief programs out of the regular budget and instead put them in a contingency fund until they are authorized.

However, sources indicated that, after a House offer and a Senate counter-offer, the conferees were close to agreement on terms of the contingency fund while still haggling over other elements of domestic spending, taxes and the precise terms of a 5 percent after-inflation increase in defense spending.

Meanwhile, the House Appropriations Committee approved by voice vote an $11.3 billion transportation bill that includes $3.2 billion in federal spending for urban mass transit programs and is about $385 million more than President Reagan's budget for the 1984 fiscal year, which begins Oct. 1.