There is 2 ways I know of to remove stripped bolts and screws

The way I mainly use is to get a dremel and cut a slit in the bolt and use a flathead to unscrew it. I had to do this on the chassis of a RC car I have to get the engine off after a screw stripped the other day.

Another way I know of at hardware stores they usually sell a screw extracting kit for a drill and you can drill it into the screw and it locks in place and will unscrew the stripped bolt

Last way I know of is to drill it completely out which is NOT recommended as this has the highest chance to cause damage and break the bit