Soften gelatin in 1/4 cup of the water. In a sauce pan, bring remaining 1 cup water to a boil. Add softened gelatin and stir until gelatin is dissolved. Stir in sugar, milk and almond extract. Pour into an 8 inch square pan and chill until firm. To serve, drain peaches, saving the liquid. Cut peaches into smaller pieces. Put back into liquid and add lychees and cherries. Cut almond gelatin into diamond shapes. Carefully put into fruit mixture.