Yes you can add another disk.
I expect a mobo of 6 years should be able to handle ATA133 and so you can just go and get any 3.5" internal IDE or Pata hard disk in.
Older mobo may have bios limiting the size of the hard disk but a 6 years old machine should not be one of them.
You can hook the new disk onto the same ribbon cable but a separate one with 80 wires is recommended for connecting to the second connector on the mobo. The 40-wire ribbon cable can't do ATA133 which you will find a lot fast than UMDA66.
If the hard disk come up alright you may consider migrating the operating system in the old slow disk to the new fast disk.
This thread may be of interest to you.