Option Explicit
Sub Test()
Dim vntResults As Variant
Dim vntResult As Variant
vntResults = Application.GetOpenFilename("PNG Dateien (*.png),*.png", Title:="PNG Import", MultiSelect:=True)
If VarType(vntResults) = vbBoolean Then Exit Sub
Dim shp As Excel.Shape
Dim pos(1 To 2) As Single
pos(1) = Range("B2").Left
pos(2) = Range("B2").Top
For Each vntResult In vntResults
Set shp = Worksheets("Tabelle1").Shapes.AddPicture(vntResult, True, True, pos(1), pos(2), -1, -1)
pos(2) = pos(2) + shp.Height + Application.CentimetersToPoints(0.1)
Next
End Sub