It looks like the infraspinatus and the supraspinatus. They are the muscles that line each side of the spine of the scapula. How you know it is these for sure is by palpating. At the top of the shoulder, you can should be able to feel the shape of the head of the scapula also called cartilage of the scapula. Down the middle there is a ridge, that’s the spine of the scapula.
I found this great painted horse that shows the muscles clearly:
http://www.pecorfamily.com/Blog_202006_2D08_2D27_20Painted2.jpg
The supraspinatus (supraspinate muscle if you want to google) is the one located on the front of the shoulder.
Its role is to laterally support and extend the shoulder joint. I also found "maintains shoulder in extension.
If you have a problem with this muscle you would see loss of mobility at the shoulder joint, gait irregularity in the front hand.
The infraspinatus (infraspinate muscle) is the other muscle located on the side of the ribcage
Its role is abduct (lift) and rotate the leg and rotate it laterally ( external rotation). It acts asa lateral collateral ligament of the shoulder joint.
If you have a problem with this muscle the horse will be unwilling to cross the leg underneath itself, the leg may land outside of the track or look like its winging.
(thank you Equinology 
You should look at wether this muscle development is even on both side or if its asymetric. You can palpate to see if the horse is showing any sign of soreness. You can palpate for muscle quality and tone - and compare both side. You can use the back of your hand and try and see if you identify some cold and hot zone. You can look at the quality of the hair and see if there are some differences between body part -coarser, dryer, longer, discolored, etc…You can lift the leg and do some circles and range of motion (always keep the knee bent) and see if you can feel restrictions one vs. the other. You can get on a stool, stand behind your horse and check if both shoulders are developed the same. And of course, you can go around the barn checking other horses so as to compare and contrast.
An experienced massage practicioner (bodyworker) can help identify wether the muscling is correct and if not, help the horse with restrictions through massage and range of motion as well as with recommending exercices, an experienced bodyworker should be able to do an assessment of the horse in hand/under saddle, look at your saddle ( that affects the shoulder a lot), look at feet. However, for a massage practicioner its much better to work with a clear diagnostic and at least in my program we prefer the owner has already spoken to a vet so we can work with a clear diagnosis and in fact, as much as possible, we like to work with the vet. In some states, the vet has to authorize the bodyworker. Its a great field and I am at the kindergarden stage learning wise, so bear with me.
I have a couple of great big books I will check for you but they are in my car so it wont be for a day or two. I will try and identify causes for hypertrophy -what you think it is -not what I know it is -
Dont know if this helps. Good luck with your horse.
Oh, and I found this really interresting paper for anyone who has a one sided horse - ie and asymetrically developed horse:
http://www.equinedesign.info/onesided.htm