Waveform "cancellation" is limited by a number of factors. There is always interference, and it takes as much energy to create the canceling waveform as the original, and unless the "inverted" waveform comes from precisely the same source, and orientation, as the original waveform, it cannot cancel the waveforms out everywhere, Moreover, if the canceling waveform is is being generated based on receiving the original waveform, simple lightspeed limitations preclude being able to completely detect and counter-generate a closely matching signal. For stable signals, a reflection counter generated signal is possible: holographic images rely on the light of the same color creating meaningful images based on the recorded interference patterns from the original holographic recording.
As you've noticed, sound cancellation can work well in a limited, well controlled environment (such as inside the ear of someone wearing noise cancelling headphones). But sound waves are also quite _long_ compared to most light waves, so producing them in phase to to cancel out another signal is relatively easy, and can be done dynamically. And there's the separate mater of "quantum" electromagnetic behavior. Energy is typically "quantized", existing in discreet bundles, for various reasons. You can think of it as sound coming from individual molecules of air, working together. For light, the very small wavelength makes it particularly noticeable, just as a stunningly high sound would have wavelengths on the order of the size of the space occupied by a single air molecule. At those frequencies, attempting to cancel the waves gets caught up in the behavior of individual "photons" of light or "molecules" of air, and controlling the behavior of the whole wave to get complete cancellation gets quite odd.