If your washing machine is undersized but your dryer is standard, consider drying two wash loads at once. Running your dryer for 45 minutes uses the same amount of energy regardless of how much laundry is being dried. Just make sure you don't overstuff the dryer, though, because clothes need breathing room to tumble.
For every drying load you eliminate per week, you'll save about $18 in energy costs per year. If one in five U.S. households cut-out one drying load per week, the savings across the country would total more than $1 million per day.
Sources:
Sempra Energy (PDF)