Multi-sensor fusion stands as a pivotal technique in addressing numerous safety-critical tasks and applications, e.g., self-driving cars and automated robotic arms. With the continuous advancement in data-driven artificial intelligence (AI), MSF's potential for sensing and understanding intricate external environments has been further amplified, bringing a profound impact on intelligent systems and specifically on their perception systems. Similar to traditional software, adequate testing is also required for AI-enabled MSF systems. Yet, existing testing methods primarily concentrate on single-sensor perception systems (e.g., image-/point cloud-based object detection systems). There remains a lack of emphasis on generating multi-modal test cases for MSF systems. To address these limitations, we design and implement MultiTest, a fitness-guided metamorphic testing method for complex MSF perception systems. MultiTest employs a physical-aware approach to synthesize realistic multi-modal object instances and insert them into critical positions of background images and point clouds. A fitness metric is designed to guide and boost the test generation process. We conduct extensive experiments with five SOTA perception systems to evaluate MultiTest from the perspectives of: (1) generated test cases' realism, (2) fault detection capabilities, and (3) performance improvement. The results show that MultiTest can generate realistic and modality-consistent test data and effectively detect hundreds of diverse faults of an MSF system under test. Moreover, retraining an MSF system on the test cases generated by MultiTest can improve the system's robustness.