No. You obviously have a clutch motor, which is a single phase induction motor. There is no known easy/cheap way to slow these down electronically. The best way to control a sewing machine is with a servo motor, fortunately they are relatively cheap these days.
An alternative, if you want to keep the clutch motor, is via pulleys. Fit the smallest pulley you can to the motor and make/buy a speed reducer to fit between the motor and the machine head. Not as effective as a servo, of course.