I think @root's answer addresses the question of "why?" High pitch is psychologically associated with excitement. Modulating/transposing up is a fundamental of building excitement or tension which exploits that psychology. If you are looking for music theory to corroborate that, some things to consider:
- General melodic contour. The common arch contour rises to a climax the descends to an end.
- A root movement of an ascending perfect fifth is a fundamental "opening". It creates tension. It's the antecedent. A descending perfect fifth is the corresponding "closing"/resolution/consequent.
- Melodic sequences upward create tension, downward release tension.
- Modulating "up" to the dominant involves raising a pitch (subdominant is raised to become a new leading tone) and is part of "structural" tension usually as part of a build to a mid-point climax, modulating "down" to the subdominant involves lowering a pitch (the leading tone is lowered to become a new subdominant) and is often a post-climax denouement.
You might say that begs the question of why those upward movements are used to build tension and excitement. We then just get into a circular discussion going back to the point about pitch and psychological excitement. Perhaps you might ask why high pitch is associated with psychological excitement. And you could try shifting to physics and answer that higher pitch/fast frequencies have more energy, and the natural world tends to not expend energy unless compelled to. Think survival scenarios where things speed up, like running speed, heart rate, etc. and that's excitement. At a certain point I like to direct people to this interview with Richard Feynman. You should make the connection around :54 into the video, but watch from the beginning to understand what triggered Feynman.
When a song has a key change, often towards the end, it goes up, rather than down. There is probably a reason for this.
If yet another repeat of pop song chorus risks monotony, transposing up is a simple way to inject some excitement into the music. I supposed a shift downward could work too, but it makes sense to shift in a direction that fits the original mood of the song. An upbeat rock song would probably want to maintain not lessen the energy level. On the other hand, if the song were mellow, a shift down might be an effective way to extend an ending, a way to effect a denouement.
Often that new key is one semitone, or one tone higher than the original. What's the reason for those particular changes, above any others?
Vocal range must be a practical consideration when the shift is a literal transposition up.
You could make some comparisons between the common tones of the keys, but I think that doesn't matter. That is normally an aspect of "smooth" modulation where the supposed concern is to not notice the change. But in the case of adding excitement to a repetitious chorus the whole point is to notice the change, and hopefully react with excitement. Any more specific emotional reaction beyond a "refresh" or "excitement" probably will depend more upon the main content of the song that the size of the upward transposition.