Oh yes. DS, now 3.9 has been like this for as long as I can rememeber. Countless books we couldn't read because they made him so upset. Could be anything from a car getting stuck in the mud to someone looking angry. Ds would feel so sorry for the car that he started crying telling me to put the book away. Always wondering why someone is looking angry or sad, getting very involved.
It does get better. An example. There was a book we used to read that was about different animals saying goodnight to their babies. The last page was a human boy laying in bed. DS might have been 15 months at the time and started to cry even before I had flipped to that page, anticipating. I never understood WHY that picture made him so upset. Fast forward to about a month ago. I found the book showed it to DS. He immediately smiled and said "Remember how I used to think that boy was crying!" So more that 2 years later he still remembered the feelings and finally, I got the answer to WHY he had been so upset.
Not to say that it all goers away with age. He is still super emotional but can express it so well now since he understands his feelings better. I think they just learn to DEAL.