Flux switching machines play a crucial role in emerging sectors such as renewable energy, electric vehicles, and the aerospace industry. Recent advancements have underscored their potential for achieving high torque density, effective heat management, and flux-weakening capabilities. This paper provides a comprehensive review of the design optimization of these machines, offering a unique contribution, as no previous attempts have delved into a detailed exploration of various optimization techniques specific to this technology. Special attention is given to state-of-the-art technologies related to multi-objective optimization and the performance analysis of the three variants: permanent magnet, wound-field, and hybrid excited. The review highlights and compares several optimization strategies from recent research, revealing research gaps in integrating advanced control algorithms, thermal, vibroacoustic, and structural models into the optimization design process of these machines. Furthermore, this review identifies essential trends in optimization development, offering valuable insights and future perspectives for these machines across diverse applications.