"Larger" means different things depending on the circumstance.
One common notion of larger and smaller comes from partially ordered sets. A partially ordered set is a set $X$, together with a special relation on $X$, commonly denoted by the symbol '$<$'. If $x, y \in X$, the symbol $x < y$ is read as "$x$ is less than $y$," or "$y$ is bigger than $x$." The relation is required to satisfy the following conditions:
1 . If $x, y, z$ are in $X$, with $x < y$ and $y < z$, then $x < z$.
2 . Let "$x \leq y$" mean that $x < y$ or $x = y$. Then if $x \leq y$ and $y \leq x$, then $x = y$.
Note that we are NOT saying that any two elements of $X$ can necessarily be compared. A partially ordered set with this property is called totally ordered.
Thus a partially ordered set gives a notion of elements being bigger or smaller than others. Here are some examples:
1 . Let $X$ be the set of all subsets of some given set $S$. For $A, B \in X$, set $A \leq B$ if and only if $A \subseteq B$.
It is in this sense that the set of odd numbers is smaller than the set of natural numbers.
2 . Let $X$ be the same set as in (1), but this time, set $A \leq B$ if and only if $A \supseteq B$.
So here, the notion of bigger doesn't conform to the usual notion.
3 . Let $X = \mathbb{R}$, and for $x, y \in X$, set $x < y$ to be the usual thing.
This is a total ordering.
4 . Let $X = \mathbb{R}$, but this time set $x < y$ if and only if $|x| < |y|$.
This is actually not a partially ordered set, since $-5$ and $5$ are "less than or equal to each other," yet they are not equal. It does arguably give a good notion of size though: we think of $-10$ as being bigger than $5$ in this sense.
Another common notion of size in mathematics, specifically the size of sets, is cardinality. This is the thing you first mentioned: one say that the cardinality of a set $X$ is less than or equal to that of a set $Y$ if there exists an injective map of $X$ into $Y$.
If the cardinality of $X$ is less than or equal to that of $Y$, and vice versa, then one can show (under some reasonable assumptions) that there exists a bijective map $X \rightarrow Y$. One says in this case that $X$ and $Y$ have the same cardinality. It is in this sense that the set of natural numbers and the set of odd numbers have the same size.
Moreover, one can show that for any sets $X$ and $Y$, one of their cardinalities is less than or equal to that of the other. So we can sort of say that cardinality is a total ordering, but we don't say this to avoid logical inconsistencies. A partial ordering is defined on the elements of a given set, and we don't consider all sets to be members of a given set.