I have a light in my garage that is controlled by 2 different switches. My question is: Can I change 1 of the switches to a regular outlet for more outlet space? I have pulled the plate and outlet out and there is a red wire, black wire, & white wire? The house was built in the 1960's. Any help would be greatly appreciated.

Switches are not outlets. Those are 3 way switches and you can't have a proper function with only 1. Please clarify how an outlet enters the picture.

I have pulled the plate and outlet out
What does that mean? Does it mean you pulled an outlet and looked at the wiring? Does it mean you made a typo and meant to say switch. If you truly meant to say outlet, that doesn't help. You will have to describe the wiring at the switch.
If you meant to say switch, then no you cannot just change the switch to an outlet. Nor can you add an outlet at that location because you have no neutral.