Been there, done that, got the shirt. I took care of it by putting a big box, lined with foam, over the compressor. It was big enough to let it cool. Was very helpful in reducing noise. I used the cheap matress pads from Wal-Mart for the liner. The Hiatachi was the quieter one. I went to the tool center and asked for a side by side comparison. I knew I could damper the lower tones easier than the higher ones, I picked the thumper over the squealer.
Good luck.