You know what they say: Beauty is only skin deep, but ugly goes down right to the bone.
But seriously, Orcs probably have a different standard of physical attractiveness than Men or Elves. For males at least it would seem to be based on physical strength, as Orcs live violent lives. Since female Orcs are not depicted in the books or the films, we can only speculate.
It's possible that the uglier we see them, the better they look to themselves., and vice versa. They doubtless see us in the same way we see them.
Astute observation, but it brings up a question:
WHY THE HECK ARE WE DISCUSSING THIS
Why not? There has been a lot of discussion about orc females and orc reproduction already, so orcish standards of attractiveness sounds like it will fit right in.
Never have I agreed so much with something I distaste so much.