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Europe ARE doing a lot. We just don't have as much of an aging stockpile of weapons as the US does. Also when turned into financial contribution you need to convert it to a percentage of GDP.
Well, turns out someone made that data available.
https://www.statista.com/statistics/1303450/bilateral-aid-to-ukraine-in-a-percent-of-donor-gdp/
https://www.ifw-kiel.de/topics/war-against-ukraine/ukraine-support-tracker/
Europe most certainly are doing their part.
However, that's not the real fear. The USA is going into a new presidential term, a term where the house, senate and the supreme court are going to likely side with the president on most things.
The USA can put significant pressure on European countries. If we're to believe Trump is really working in Putin's favour then, as well as stopping US aid, there's not too much stopping the US pressuring Europe from doing the same. That is my real fear. I think without US support this is hard, very hard for Europe to fill that gap. But, we certainly can still try.
To add some context to the numbers. Coming from Denmark which tops the chart, I can tell you that the top donors are getting sick and tired of big countries e.g. Germany and French providing way less resources. Bigger economies and military industries, yet the small countries of Europe donate the most. Different political situations of course. Still crazy that Germany are sort of "meh" considering their history with Russia.