During the operation of a subway, vibrations generated on the steel rails propagate as stress waves along the rail-rail pad-steel rail sleeper-ballast-tunnel-soil path. In order to investigate the variations in the fundamental characteristics of stress waves along this propagation path, this study constructed an indoor model of a subway tunnel with steel rails. A Laser Doppler Vibrometer (LDV) was used to measure stress wave signals at different locations of the experimental model, and a scanning Laser Doppler Vibrometer (LDV) was employed to capture the real propagation process of stress waves on different surfaces of the steel rails. Finally, the LS-DYNA finite element simulation software was utilized to perform a comparative analysis of the changes in wave field characteristics during stress wave propagation from an image perspective. The research results indicate that the stress wave signals generated by the wheel-rail interaction on the steel rails are mainly characterized by low-frequency signals ranging from 25Hz to 400Hz and high-frequency signals at 1400Hz. On the other hand, the stress wave signals propagated into the soil primarily consist of low-frequency signals ranging from 25Hz to 200Hz. By comparing with the measured data, the steel rail experimental model constructed in this study exhibits a consistent dynamic performance with the actual subway tunnel. The analysis of the signal data and the wave field contour maps both indicate that the high-frequency components of the stress waves attenuate most rapidly during propagation from the steel rail to the concrete sleeper, exhibiting the lowest signal energy transfer rate. The comparison between the Laser Doppler Vibrometer (LDV) and computer simulation results of the stress wave field validates the accuracy of the computer simulation method from an image perspective. Additionally, the study suggests that the results obtained from the Laser Doppler Vibrometer (LDV) can serve as an alternative to computer simulation results in the investigation of wave fields in complex media and models. The research findings hold valuable implications for the safety design and wave field analysis of subway track structures.