Is there any way to readjust the x and y sensitivity of a trackpad? It seems weird how mousing up and down is so slow when left and right is so much quicker.
Mouse properties under control panel. Increase the pointer speed, and you should also have a separate set of options for your touchpad from the drivers - should be an option in there to increase speed. As far as changing speed of each individual axis... that would be something the drivers would have to support.
Have you tried checking for updated driver/software for your touchpad? If you have a Synaptics touchpad, go here for the latest drivers: Drivers | Synaptics