One possibility is to exploit intermodulation.
One way overtones come up has already been discussed: if you pluck a string, it vibrates in multiple modes from the beginning (explained here). But there is an important other mechanism: nonlinearities. If you feed a pure overtone-free sine wave through a distortion pedal*, what comes out has a whole bunch of overtones on it, in principle the same ones that also turn up in acoustic instruments: harmonics. (They sure sound quite different, but that has other reasons.)
One might think the same process is going on, standing waves etc., but that's not the case. In fact, not just multiples of the fundamental are created, rather every difference between any two frequencies in the input signal is "considered", and you get multiples of it created (I'm not going to prove this here, but it's possible).
Huh, then why don't we hear a complete mess of thousands of different frequencies when playing a tone that has already harmonics with distortion?
Let's look at it. Suppose the original signal has frequencies
νi = ν0 ⋅ i ∀ i ∊ {1,2,3...}
then there are frequency-differences
Δνi j = νi – νj
∊ { ν0 – ν0 , 2 ν0 – ν0 , ... , ν0 – 2 ν0 , ... } = { ... , -2 ν0 , -ν0 , 0 , ν0 , 2 ν0 , 3 ν0 , ... }
These get multiplied and put back on the frequencies in the signal.
fi j k = νi + Δνi j ⋅ k ∀ k ∊ {1,2,3...}
Here you can easily see that the resulting signal will also contain the frequencies { ... , -2 ν0 , -ν0 , 0 , ν0 , 2 ν0 , 3 ν0 , ... }. Negative frequncies? Zero? Well, zero just means no sound, so you can't hear that one. And positive and negative phase velocity is indistinguishable, so effectively we have the frequencies { ν0 , 2 ν0 , 3 ν0 , ... }. Exactly the same ones as were in the original tone! Just more powerful, because they are all doubled from the many difference-possibilities. That's why you can put distortion on virtually any melody-playing guitar: you get the same frequencies again, so it never sounds wrong (except too loud / unsubtle).
If you play multiple different notes simultaneously, things get a bit more complicated: with a clean sound, the ear can separate them again, and we hear a clear chord. But with distortion, there will be frequency differences that do not map again to frequencies originally present in the signal. If it was just a little tube overdrive, these frequencies make up the famous bluesey "dirt" and you can still well distinguish the original chord notes; if you play Jazz chords through a metal distortion pedal the extra frequencies won't be properly seperable and you can't distinguish anything at all anymore. Seldom desirable.
However, you know there is one kind of chord that works at any distortion level: exactly, the powerchord. And here's why:
In a perfect fifth, the frequencies have a ratio of 2:3. So if you play a two-stringed† powerchord, you have those frequencies in the original signal:
{ ν0 , ³⁄₂ ν0 , 2 ν0 , ⁶⁄₂ ν0 , 3 ν0 , ⁹⁄₂ ν0 , 4 ν0 , ... }
where you can find the differences
{ 0 ν0 , ½ ν0 , 1 ν0 , 2 ν0 , 2 ν0 , ⁷⁄₂ ν0 , 3 ν0 , ...
⁻½ ν0 , 0 ν0 , ½ ν0 , ³⁄₂ ν0 , ³⁄₂ ν0 , 2 ν0 , ⁵⁄₂ ν0 , ...
}
You see what's going on here: we're getting components with half the original fundamental frequency! Subharmonics. And those are in fact the reason why powerchords sound so fat.
*It doesn't actually have to be electronic, mechanical distortion work as well. Such are found in the nonlinear air flow in all wind instruments, this effect is used by rock flautist who sing notes while playing, to create intermodulation.
†Three-stringed is exactly the same, as the octave only backs up even harmonics of the low string.