After searching a lot about grid formatting in Microsoft Dynamics CRM 2016 I came to know that there are no supported way to make it as per our requirement. The reason behind changing look and feel was to make grid more readable, existing one has complete white color background which makes difficult to visualize and relate adjacent records if there are so many columns and rows.
However inspired by Bohnnie Maity blog on conditional formatting for CRM 2013 sp1/2015 grids using actions, I have made changes in code to make grid little attractive.
This is the standard grid available in Dynamics CRM 2015/2016
After modification of CSS through Java Script, Grid looks like below images with Gray & Orange color for each alternative rows,
Above grid looks more attractive and easy to analyze the records in associated rows.
For achieving this output use following java script code,