[brigade]

Basically, no.

For audio, there's spectral band replication which works well in a large part because harmonics make audio rather correlated across multiple frequencies. Images have much less correlation, and thus processing in the frequency domain is less useful.

Additionally, especially with codecs with a small DCT like JPEG, it's been shown that once you reach a certain quantizer (throwing away all higher frequencies, effectively downscaling in the frequency domain), it becomes better to do a traditional downscale + upscale around the lossy coding.

Or, to put it another way, you can exploit the properties of a how a specific lossy codec discards information to get closer to the original image (deblocking filters are the most common example). There is a significant amount of research on this topic for JPEG. But if you could exploit the properties of the DCT or wavelets for better upscaling, it would work equally well as a codec-agnostic algorithm. Frequency transforms are perfectly reversible assuming infinite precision math, after all.