A system for generating one or more enhanced audio signals such that one or more sound levels corresponding with sounds received from one or more sources of sound within an environment may be dynamically adjusted based on contextual information is described. The one or more enhanced audio signals may be generated by a head-mounted display device (HMD) worn by an end user within the environment and outputted to earphones associated with the HMD such that the end user may listen to the one or more enhanced audio signals in real-time. In some cases, each of the one or more sources of sound may correspond with a priority level. The priority level may be dynamically assigned depending on whether the end user of the HMD is focusing on a particular source of sound or has specified a predetermined level of importance corresponding with the particular source of sound.