The stock cats are fine and flow plenty as long as they are not blocked. Sometimes it helps to remove the Y-pipe from the manifolds and bang out a lot of the rust and scale that's in there, which gets trapped by the mesh in front of the converter assembly.
You can throw on a new converter assembly from Walker, Magnaflow,etc. (that will run you $200) or even a universal 3-way for less, but generally this doesn't do a whole lot unless you do a lot of other mods, everything from new, ported heads on the engine, to an air intake, headers, etc. If you throw a cam on there and up the powerband into the 3000-5000 RPM range then a much higher flowing cat will do wonders, but at that point you'd also want a higher flowing muffler, something like a straight-through design.
The stock or mildly modded 4.0L OHV does ok with the stock manifolds, Y-pipe, and converters. Really it's the muffler that is the biggest bottleneck, especially on the 93-94. The Dynomax Super Turbo muffler is perfect for this application since it flows more than enough for the low 1500-2500 RPMs the 4.0L sees.
On the '91-92, the stock replacement systems aren't too bad either, but the Dynomax gives a bit more flow. Unfortunately, Dynomax no longer makes the rear pipe for the 91-92 system so you can buy the Walker front pipe and 17747 muffler seperately, but you'll need to use a stock replacement 2.25 rear pipe.