Many Canvas Objects causing lags

Simply put, I made a very basic Cookie-Clicker Esque game for a school project and I used a Canvas for the descriptions of upgrades, but the game gets really laggy if there are more than 8 upgrades on screen, even when they are disabled (99% of the time). Are there any possible fixes for this problem? (This is not a script problem, getting rid of the Upgrade script did nothing)
The hierarchy:

UpgradeIcon>Canvas>2x(Panel->Text)

Use the profiler to check what is actually causing lag, By default the editor uses the highest quality settings, which has V-sync turned on. Try going to Edit → Project Settings → Quality and turning V-sync off.