Images only in the loop? Is this possible?

Hi all. I hav e a situation where I need to have a loop pull in our 7 newest posts with title and excerpt and the image from the last post on the left. So an image and a list to the right of it. Any tips? Can I create a loop that just pulls in images? This would need to work so that the image swaps out as the newer posts come in.

Thanks in advance. Brandon