I was puzzling over the size of my photo files too.
I have iPhone 6+ and iPad Air 2, with a similar camera. This is what I found in
Settings --Photos-- Optimize iPhone Storage ...Download and Keep Originals [quote]
"If your iPhone is low on space, full-resolution photos and videos are automatically replaced with optimized versions.
Full-resolution versions are stored in iCloud" [end quote]
So--I see that I have on my phone a check mark beside Optimize iPhone Storage.
That is probably what reduced my original full-resolution photos (don't know about videos) to "optimized" versions near 72dpi
I'll have to check the iCloud My Photo Stream uploads to see the resolution there.
If you look at the next option, it is
DOWNLOAD AND KEEP ORIGINALS
"This iPhone is currently storing original photos and videos. Turn on Optimize Storage to
automatically manage storage on this device and keep originals in iCloud."
The next option to check is
UPLOAD TO MY PHOTO STREAM
"Automatically upload new photos and send them to all of your iCloud devices
when connected to WiFi."
In my case, I installed iCloud for Windows on my Win7 computer, so I could edit individual photos with software running there.
That's how I discovered there was only a JPG file and not a RAW file, and began tinkering with my storage settings.
Perhaps this is the basis of your photo problem as well?
This information is under Settings - Photos- or Settings - iCloud and just check it out.