I have noticed that viewing images or websites that are hosted on US servers (Im in europe) is considerably slower. The main reason would be the latency because of the distance.
But if 1 packet takes n milliseconds to be received, can't this be alleviated by sending more packets simultaneously?
Does this actually happen or are the packets sent one by one? And if yes what determines how many packets can be send simultaneously (something to do with the cable i guess)?
But if 1 packet takes n milliseconds to be received, can't this be alleviated by sending more packets simultaneously?
Not in a boundless way, by TCP/IP standards, because there algorithms that determine how much can be in flight and not yet acknowledged to avoid overloading the whole network.
Does this actually happen or are the packets sent one by one?
TCP can and does keep up to a certain amount of packets and data "in flight".
And if yes what determines how many packets can be send simultaneously (something to do with the cable i guess)?
What cable? The same standards apply whether you're on cabled, wireless, or mixed sequences of connections (remember your packet goes through many routers on its way to the destination, and the sequence of router can change among packets).
You can start your study of TCP e.g. wikipedia. Your specific questions deal with congestion control algorithms and standard, Wikipedia will give you pointers to all relevant algorithms and RFCs, but the whole picture won't do you much good if you try to start studying at that spot without a lot of other understanding of TCP (e.g., its flow control concepts).
Wikipedia and similar encyclopedia/tutorial sites can only give you a summary of the summary, while RFCs are not studied to be readable, or understandable to non-experts. If you care about TCP, I'd recommend starting your study with Stevens' immortal trilogy of books (though there are many other valid ones, Stevens' are by far my personal favorites).
The TCP protocol will try to send more and more packets at a time, up to a certain amount (I think), until it starts noticing that they're dropping (the packets die in router/switch land when their Time To Live expires) and then it throttles back. This way it determines the size of the window (bandwidth) that it can use. If the sending host is noticing from its end a lot of dropped packets, then the receiving host is just going to see it as a slow connection. It could very well be blasting you with data, you're just not seeing it.
The issue is parallelism.
Latency does not directly affect your pipe's throughput. For instance, a dump truck across the country has terrible latency, but wonderful throughput if you stuff it full of 2TB tapes.
The problem is that your web browser can't start asking for things until it knows what to ask for. So, when you load a web page with ten images, you have to wait until the img tags arrive before you can send the request for them. So everything is perceptibly slower, not because your connection is saturated but because there's down time between making one request and the next.
A prefetcher helps alleviate this issue.
As far as "multiple packets at a time" are concerned, a single TCP connection will have many packets in transit at once, as specified by the window scaling algorithm the ends are using. But that only helps with one connection at a time...
TCP uses what's called a sliding window. Basically the amount of buffer space, X, the receiver has to re-assemble out of order packets. The sender can send X bytes past the last acknowledged byte, sequence number N, say. This way you can fill the pipe between sender and receiver with X unacknowledged bytes under the assumption that the packets will likely get there and if not the receiver will let you know by not acknowledging the missing packets. On each response packet the receiver sends a cumulative acknowledgment, saying "I've got all the bytes up to byte X." This lets it ack multiple packets at once.
Imagine a client sending 3 packets, X, Y, and Z, starting at sequence number N. Due to routing Y arrives first, then Z, and then X. Y and Z will be buffered at the destination's stack and when X arrives the receiver will ack N+ (the cumulative lengths of X,Y, and Z). This will bump the start of the sliding window allowing the client to send additional packets.
It's possible with selective acknowledgement to ack portions of the sliding window and ask the sender to retransmit just the lost portions. In the classic scheme is Y was lost the sender would have to resend Y and Z. Selective acknowledgement means the sender can just resend Y. Take a look at the wikipedia page.
Regarding speed, one thing that may slow you down is DNS. That adds an additional round-trip, if the IP isn't cached, before you can even request the image in question. If it's not a common site this may be the case.
TCP Illustrated volume 1, by Richard Stevens is tremendous if you want to learn more. The title sounds funny but the packets diagrams and annotated arrows from one host to the other really make this stuff easier to understand. It's one of those books that you can learn from and then end up keeping as a reference. It's one of my 3 go-to books on networking projects. 
I guess parallel packets transmission is also possible(ya.. there can be limiit on No. of packets to be send at a time)..U will get more information about the packet transmission from topics::> message switching,packet switching ,circuit switching & virtual circuit packet switching...