Getting to Olomouc from Krakow

Of the train schedules published for this spring, I'd choose the afternoon train with only one transfer. See the DB train schedule link at How to Look Up Train Schedules and Routes Online. Or, making a second connection would shave one hour total time off the same departure.

Krakow Glowny dep 12:41 Regional #34306

Katowice arr 14:46

Layover time 1:45 h

Katowice dep 16:31 Intercity #112 (Subject to compulsory reservation)

Olomouc hl.n. arr 19:19
 
Or, www.Rome2rio.com reveals a few bus companies serving the route. I did not check their schedules. Either type of transport will be relatively cheap in US terms.

Easy way - I suppose you want connection without changing: there is only one direct train:
Leaves Krakow at 22:02 arrives Olomouc 4:40, continues to Prague
There are several direct buses:
Leaves Krakow at 4:20 arrives Olomouc 7:50. It is bus Cernovcy -> Plzen (Pilsen)
6:30 11:40 Lwiw -> Vienna
18:50 22:40 Ivano-Frankovsk -> Prague
20:40 23:45 Kiev -> Prague
Not all buses go every day. You can find them on Czech timetable: http://www.idos.cz . You can switch it to English. You can ask for trains only or buses only or trains and buses. If you want only direct click direct. The fastest bus is going from Krakow at 20:40 arrives in Olomouc 23:45, it takes only 3 hours 5 minutes.

Thanks to both of you. I've spent a lot of time trying to figure this all out, so appreciate your insights. Probably will end up taking the bus. That worked well for us when we were going from Budapest to Vienna and from Vienna to Prague last year.