Your options are to reduce the dimension of the images and/or reduce the quality by increasing the compression. Are the images photographic in nature (JPG is best) or simple solid colour graphics (use PNGs)?
If the images are JPG (lossy compression) you can simply load and re-save them with a higher compression setting. This can result in a large space saving.
The image quality will of course decline, but you can get away with quite a lot of compression in JPG before it is noticeable. What is acceptable of course is determined by the use of the images (which you have not stated).
Hope this helps.