Wasserstein metrics are increasingly adopted as similarity scores for images. We consider the sensitivity of Wasserstein metrics with respect to pixel-wise additive noise when the images are treated as discrete measures on the pixel grid. We derive finite-sample expectation bounds for a Gaussian noise model. Among other results, we prove that the error in the signed 2-Wasserstein discrepancy scales with the square root of the noise standard deviation. This is favorable compared to the Euclidean metric that scales linearly, and thus provides a theoretical basis for the benefits of optimal transport distances in noisy settings. We present experiments that support our theoretical findings and point to a peculiar phenomenon where increasing the level of noise can decrease the Wasserstein distance. A case study on cryo-electron microscopy images demonstrates that the Wasserstein metric can capture the geometry of the data manifold in high noise settings even when the Euclidean metric fails.