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I did some research and while it used to be possible to get this in Macau in the past, the company most people suggested: CTS does not offer this service anymore. They suggested their Hong Kong office.
I contacted a different agency in HK suggested in another post on travel.stackexchange FBT, they said they don't need hotel bookings or return flights.
Today I went to Hong Kong to their offices and indeed many travelers applied with just an application form and a password photo.
The process takes (up to) 4 working days and you have to hand in your passport.
For me that was a problem because I had to return to Macau in the evening for which I needed my passport. I knew that, so I applied with my second passport which I carry for cases like this one.
But they told me I could not use that one, because I have to apply with the same passport I entered Hong Kong with.
I went back to immigration at the ferry terminal and confirmed that I have to leave with the same passport I entered with.
So, it turns out it is not possible to apply for a Chinese visa in Hong Kong while based in Macau.
The only thing I can do is moving to HK and staying there for 4 to 5 nights while waiting for my visa.
Edit: I applied on a Monday afternoon and got the visa on Thursday 1p.m., no hotel bookings or proof of onward transportation was required. You can also pay extra for a one day express service.