"Running low on disk space" means what proportion of the disk is full?
Optimize Table might increase or decrease the data_free value, eg see
https://dba.stackexchange.com/questions/185010/innodb-what-does-data-free-mean
Information_schema is just reporting these usage values---they aren't "in" information_schema. Let's see the MySQL version, the OS and version, the result of ...
select engine,data,indexes,total
from (
select
ifnull(engine,'TOTALS') as engine,
concat(data,' GB') as data,
concat(indexes,' GB') as indexes,
concat(tot,' GB') as total,
if(engine is null,-1,tot) as ord
from (
select
engine,
round( sum(data_length)/1024/1024/1024, 2 ) as data,
round( sum(index_length)/1024/1024/1024, 2 ) as indexes,
round( sum(data_length+index_length)/1024/1024/1024, 2 ) as tot
from information_schema.tables
where engine is not null and engine not in('information_schema','performance_schema')
group by engine with rollup
) sums
) list
order by list.ord desc;
..., the disk size, the amount of free disk space on the disk, and swapping stats from your OS.