"Most people have been complaining to Sony about their stuck and dead pixels. Well I have done my research and I heard about a guy over at psphacks.net that had a LCD TV that had some stuck pixels and when he went to Best-Buy they gave him a dvd that flashed Red, Green and Blue over and over again. This supposedly "un-sticks" the stuck pixels, by calling them to do rapid changes (To my understanding). So I thought about it for a while, and I said, what the heck, I'll try it. So I made my own video that does this, and it works!
Admin edit: Several forums users have reported success with this video, though several have reported failures. You don't have much to lose, so just give it a shot and let us know your results.
So far, it has worked around 60% of the time. I tried it on my friend's that had 6 stuck pixels, and it fixed them all. The only real thing you can do is set the video to repeat and leave it on for a few hours. In Version 2.0, I have added a white screen and a black screen, so you can periodically check to see if your pixels have been fixed. This video works with all versions of the PSP, from 1.00 to 1.52; good luck with it to all of you."
Download: PSP Stuck Pixel Fixer Video
More info: PSPVault