HTTP Error: Most images won't upload

Since I installed theme X with godaddy hosting, I have been having a great time with my site, except for one issue: I have huge trouble when it comes to uploading images. When I try to upload an image via the wordpress media upload function, I will usually get one of the following error messages:
– HTTP Error
– Unable to upload image, please try again later

When I try to upload an image on my old wordpress site, they work fine! To make things even more strange, I can sometimes get images to work if I save them at a super low quality resolution when exporting them from photoshop, but even then I have not been able to find a consistent workflow. I should be able to upload images at 1024×960 size and not have to play with settings a dozen times just to get one low quality image to upload. What do you guys think the best option is? I’m limited in my web knowledge, so I am unsure what steps to take next. Any help is greatly appreciated!

Things to know
– Running theme with X
– Some images upload at low resolutions
– Images that don’t upload on my site upload fine on an older site
– Shared hosting with Godaddy
– Running Wocommerce on site