I've found the piezos I've used to be annoyingly loud so it could be the piezo type.
Resonant frequency can play a great part so as manuka suggests try adjusting the SOUND or TUNE value ( or PWM frequency if using that ).
Bigger piezos seem to be louder than smaller ones and how they are mounted makes a difference. The ones I use are in a plastic circular case rather than bare piezo. You can gain a lot by taping a piezo to a flat surface with a hole cut for the sound to come out. Horns ( toilet roll or kitchen foil tubes ) can improve things but make the sound more directional.