3 thoughts:
1) Soundstop by Celotex, It's similar to Homasote but designed as a sound barrier. It also costs less.
Beware, it has very low strength, if you try to lift a sheet by the corner it Will break off.
It does, however, significantly reduce the noise of the track.
There was a thread on the old board about one person who did experiments with sound measuring equipment, on what helps.
Homasote or Soundstop are excellent under the track, followed by something most of us ignore.
2) Fill the hollow cars with foam!!! they also act as sounding boards.
Now we probably aren't going to do that to our passenger cars but a chunk of pillow foam stuffed in each end of a boxcar will still allow small objects to be inserted and removed at the doors. And it WILL reduce the noise level.
You can also try the solid sheet foam insulation under the layout, but I expect it will have marginal results, the top side of the board will remain a sounding surface.
3) If possible, can you simply use a jigsaw and cut slots along the tracks? This can be covered with a small amount of scenery material to repair the visual effect.
And it removes the sounding board area. After the cuts are made, adding 1X2" supports every couple feet (or closer, depending on thickness of plywood) would be a good idea.