where your antennas are and how they are oriented has a lot to do with getting good reception too... where your hifi is set up is important too. if it's in the basement, it's surrounded by 4 concrete walls, and maybe even a bunch of dirt. that doesn't really matter much for AM signals, but it's important for FM.
AM stations can sound noisy from local interference (such as wall warts and power bricks for computers/phone chargers, etc.... aging CFL lamps are also the source of a lot of radio noise. there can be noise sources in your neighborhood, overhead electric lines, failing street lights, etc...
some AM stations use a digital signal to send digital audio and data alongside their AM signal. this digital signal can interfere with other AM stations on adjacent frequencies. the AM loopstick antenna picks up best when it's perpendicular to the radio station (i.e. if the station is to the north of you, the loopstick should be pointed east/west). "antenna boosters" for the AM band work well if placed near the loopstick antenna (such "boosters" are a coil wound on a large frame that "grab" the signal more efficiently than the loopstick, and couple that signal into the loopstick.
FM reception is "near line of sight", meaning it works best in the line of sight to the transmitter, but the signal can "bend" around obstacles and terrain features. having your antenna in the basement is not a good idea. if you have a coaxial connector or terminal strip on the hifi to connect an FM antenna to, you can connect a better antenna (which works best when mounted up high, like on the roof or on a pole. a VHF TV antenna works good too, because the FM band is in between two segments of the VHF bands used for TV stations.