You can't cast whitespace to a timestamp. "Display" is really up to the application displaying the data. I use PGAdmin 3, and by default that shows NULLs as "blank", though you can configure it to show something else like <NULL> for NULLs instead.
The best solution is update your code to display a blank or whatever you want when the field is NULL. Otherwise you could cast the timestamp to TEXT so you can display whatever you want from the PG side:
SELECT CASE WHEN exp_date IS NULL THEN ' ' ELSE exp_date::TEXT END