EA holds the two most demanding and gorgeous game engines in their hands - CryEngine 3 and Frostbite 2. Crysis 3 would be a visual masterpiece and maybe Battlefield 4 if DICE's claim is true that it would utilize from 70% of the engines power.
Can't say much for other games, Dead Space won't look on par with Battlefield's Frostbite visuals but its the story that matters on that title. ARMA 3 looks ok considering its a simulator FPS. Watch Dogs however is not on my list, hate that game.
Environment wise, Metro Last Light wins. The fog in the tunnels, sound effects and overall atmosphere is great in that game.