Overlay n list of same size images on each other in sequence they appear in list

I have a requirement where the python3 function will accept 3 positional arguments (list of image paths, 'outfile name', destination path)

This is the code I coded which works as expected, But I looking for a more better way of doing it.

def overlay_iamges(jpeg_list, outfile, destination):
    from PIL import Image
    import os
    from shutil import copyfile, move
    
    new_list = []
    for each in jpeg_list:
        copyfile(each, os.path.join(os.getcwd(), os.path.basename(each)))
        new_list.append(os.path.basename(each))

    for i in range(1, len(new_list)):
        background = Image.open(new_list[i-1])
        img = Image.open(new_list[i])
        background.paste(img, (0, 0), img)
        background.save(new_list[i],new_list[0].split('.')[-1].upper())

    new_file_name = outfile+'.'+new_list[-1].split('.')[-1].lower()
    os.rename(new_list[-1], new_file_name)
    move(os.path.join(os.getcwd(), new_file_name), os.path.join(destination, new_file_name))

    for each in new_list[:-1]:
        os.remove(each)
    
jpeg_list = [r'C:\Users\samant\Google Drive\test/blackbackground.png', r'C:\Users\samant\Google Drive\test/bluesquare.png', r'C:\Users\samant\Google Drive\test/redcircle.png']

overlay_iamges(jpeg_list, 'outfile', r'C:\Users\samant\Google Drive\destination')

Attached below are input images :

Expected output below :