1. It sounds like you don't know what white balance does at all and your assumption is wrong.
This is what white balance does when it's wrong:
If your white balance is wrong, the pix will still be properly exposed but the colour will be off.
If your colour is too blue or too yellow, you have a white balance problem.
2. But if you just have washed out over-exposure, the problem is most likely that you have your camera set to overexpose.
Look at the camera data line on screen and check what's showing under EV.
If it's showing a high number like +2.0 or +3.0, dial that back to zero and your live view and images will look a lot better.