From comparing LFS's engine sounds with onboard videos I think there are two points I can put my finger on.
1. LFS seems to lack a bit regarding very low frequencies. Maybe those aren't produced by the combustion but rather by other resonating objects (cylinder block, chassis) which would also explain why it is so difficult to grasp.
I don't know how far LFS simulates this, but a real exhaust system oscillates quite heavily under revving. This could cause sound itself, or might be an indication of other oscillating parts.
2. Many high end vehicles sound very much like a trumpet. Click
here for a real vehicle (...with wrong description...) and
here for an LFS car.
You can also nicely hear how the real engine sound 'flitters', while the LFS sound is very monotoneous. This might have something to do with the oscillation from point 1.
Vain