DOS and, I think, Win95 had an unformat command which would restore data destroyed by a format. Unfortunately, it doesn't work with FAT32.
You need to try a data recovery program - Lost and found, as mentioned earlier, is OK.
But you absolutely must not save or install anything to the drive. If you have saved anything or installed anything on the drive since it was formatted, you can kiss goodbye to most of the contents.
Finally, an unconditional format does nothing to bad sectors - if windows has saved a list of bad sectors, then that list will remain untouched. All /U does, is prevent format from asking 'Are you sure?'. This is useful, if you are using a boot disk, which must run without user intervention.