Owing to the limitations of printed stereoacuity tests, the effects of luminance and contrast on stereopsis have not yet been sufficiently investigated, despite its important implications in designing stereoacuity measuring instruments, particularly for electronic devices. A stereopsis measurement system was established using two 4 K smartphones and a phoropter to evaluate the effects of luminance and contrast variations on the stereoacuity test. Seventeen young subjects with normal visual acuity and stereopsis were recruited. Two types of test symbols, contour-based and random-dot-based, were used in the experiment. Four series tests were established with different maximum brightness values, including 240 lux, 120 lux, 60 lux, and 30 lux. Each series test contained 19 pages with different contrasts between 95% and 5% and was calculated using the Michelson contrast formula. No significant difference was found for both contour-based and random-dot-based stereograms in any of the contrast groups with different maximum brightness. Similarly, no significant difference was found between contour-based and random-dot-based patterns under different contrasts of above 35%. As the contrast decreased below 30%, the stereopsis was significantly better in the contour-based pattern than in the random-dot-based pattern for some degrees of contrast. The luminance and contrast of the digital display are not critical factors for stereoacuity under normal circumstances. This implies that a standard monitor with a certain 3D technology can be used to measure the stereoacuity threshold without calibrating the luminance and contrast.