Elastic interactions between pores and cracks reflect how they are organized or spatially distributed in porous rocks. The principle goal of this paper is to understand and characterize the effect of elastic interactions on the effective elastic properties. We perform finite element modelling to quantitatively study how the spatial arrangement of inclusions affects stress distribution and the resulting overall elasticity. It is found that the stress field can be significantly altered by elastic interactions. Compared with a non-interacting situation, stress shielding considerably stiffens the effective media, while stress amplification appreciably reduces the effective elasticity. We also demonstrate that the T-matrix approach, which takes into account the ellipsoid distribution of pores or cracks, can successfully characterize the competing effects between stress shielding and stress amplification. Numerical results suggest that, when the concentrations of cracks increase beyond the dilute limit, the single parameter crack density is not sufficient to characterize the contribution of the cracks to the effective elasticity. In order to obtain more reliable and accurate predictions for the effective elastic responses and seismic anisotropies, the spatial distribution of pores and cracks should be included. Additionally, such elastic interaction effects are also dependent on both the pore shapes and the fluid infill.