That is done by the Launcher (Android default launcher and others like Apex and Nova do it). Sense 5 doesn't do this to my knowledge, they opted for the static wallpaper like the iPhone. If you want to get that effect you can get on the Google Play store and try out Apex or Nova, two of the most popular launchers. It'll basically be a skin on top of Sense 5 (Blinkfeed). Gives you more control over the experience. Each one offers little tweaks.