Olympus XZ-1 has a
10.0MP 1/1.63-inch (8.07 x 5.56 mm ) sized CCD sensor and features TruePic V processor. On the other hand, Panasonic LX100 II has a
17.0MP Four Thirds (17.3 x 13 mm ) sized CMOS sensor and features Venus Engine processor.
Panasonic LX100 II's sensor provides 7MP more than Olympus XZ-1's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the XZ-1 and LX100 II sensor size comparison.
As seen above, Panasonic LX100 II has a 5.0x Larger sensor area than Olympus XZ-1. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.