It looks like my husband has a small raised bump on his eyelid, but it doesn't feel raised or swollen when he touches it. what could it be?

Likely a chalazion: Unlike styes (hordeola), chalazia are usually not on the border of the eyelid, but farther up on the lid. They sometimes will drain (usually under the lid) after hot compresses, but if they don't drain sometimes surgery is necessary to remove them if they are large enough. I'd recommend that your husband see an eye doctor (an md eye surgeon, not an od optometrist) for an opinion.

Many possibilities: There are many kinds of bumps that occur on the eyelid. Most are benign. If it is irritating or grows, he should see an ophthalmologist.