There are several lasers which can tighten loose eyelid skin. All have their pros and cons. I like using an erbium laser because of its effectiveness and safety. The pure CO2 laser is much stronger and has impressive results, but the risk of complication is higher as well. See an oculoplastic surgeon to evaluate your eyelids and to determine appropriate treatment.
Excess skin that is causing the eyelid folds can only be safely and effectively removed with surgery.