It needs to be 1080 (wide - side-to-side) x 1920 (high - up-to-down) if you are putting the wallpaper into Sense as is. Remember, Sense 5.0 does not allow for a parallax view when scrolling between home screens so the image will not alter as you swipe. If you use a 3rd party launcher like Nova, Apex or Go, there is the option of regaining the parallax view, and in that case the wallpaper dimensions should be 2160 x 1920 for the best results.
For the OP's image, you will either need to anamorphically alter the image so that the whole thing is squeezed together -- It'll look a little wonky that way -- or find a new image with the dimensions listed above.