This paper may have a few pertinent things, but is more oriented toward new construction;
http://irc.nrc-cnrc.gc.ca/fulltext/nrcc ... c44756.pdf
Ideally, you would dig down alongside the outer foundation and lay drainage tile/rock, clean and render the stone from the outside; practically, "yeah, right..."
There are a few companies who offer various sealing systems, the Brits call this "tanking". Here's one company, although I get the feeling they're mostly about concrete, not stone -
http://www.xypex.com/products/xycrylic.html
I would call them and ask if they can help, or if not maybe they can recommend another approach.
Maybe if you were to do the INSIDE by filling between stones with mortar, using their admix; then a sealing coat over that, a sump pump, and full-time dehumidifier set to 40% RH...
The pic looks like drainage AWAY from the house wasn't considered, although it's hard to tell with the shrubs there. Maybe re-shaping the berm next to that wall AWAY from the house and leading any downspouts AWAY from the wall with poured concrete trays, or even just long horizontal downspout extensions??
A raised floor, if used, may help keep moisture away from gear but can NOT be a help in sound control; it may even worsen the sound in the room, because it would need air circulation beneath the floor, so no damping by heavy insulation could be done.
The GOOD news is, when the "organism" in your SECOND pic gets older, all this will seem TRIVIAL...

Steve