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If you company did layoffs it doesn't mean they've got money now, it probably means they're struggling to keep going. If your workload legitimately doubled, you need to talk to management and get that adjusted. That's obviously untenable. Getting the workload fixed and also asking for increased pay makes sense, though I wouldn't be too optimistic about your chances for a raise. Troubled organizations tend not to give raises.
Rising Star
Given that your workload has doubled, it’s reasonable to ask for compensation. They might have the budget now, so it could be worth bringing up.
It doesn’t hurt to ask and I would definitely document everything you have been doing on top of your regular responsibilities. Good luck!