The reason for TARGET_SSE_PACKED_SINGLE_INSN_OPTIMAL on AMD target is
only insn size, as advised in e.g. Software Optimization Guide for the
AMD Family 15h Processors [1], section 7.1.2, where it is said:

--quote--
7.1.2 Reduce Instruction SizeOptimization

Reduce the size of instructions when possible.

Rationale

Using smaller instruction sizes improves instruction fetch throughput.
Specific examples include the following:

*In SIMD code, use the single-precision (PS) form of instructions
instead of the double-precision (PD) form. For example, for register
to register moves, MOVAPS achieves the same result as MOVAPD, but uses
one less byte to encode the instruction and has no prefix byte. Other
examples in which single-precision forms can be substituted for
double-precision forms include MOVUPS, MOVNTPS, XORPS, ORPS, ANDPS,
and SHUFPS.
...
--/quote--

Please note that this optimization applies only to non-AVX forms, as
demonstrated by:

   0:   0f 28 c8                movaps %xmm0,%xmm1
   3:   66 0f 28 c8             movapd %xmm0,%xmm1
   7:   c5 f8 28 d1             vmovaps %xmm1,%xmm2
   b:   c5 f9 28 d1             vmovapd %xmm1,%xmm2

Also note that MOVDQA is missing in the above optimization. It is
harmful to substitute MOVDQA with MOVAPS, as it can (and does)
introduce +1 cycle forwarding penalty between FLT (FPA/FPM) and INT
(VALU) FP clusters.

[1] https://www.amd.com/system/files/TechDocs/47414_15h_sw_opt_guide.pdf