Lucet just released, but so far these are the current differences as far as I can tell:
1. Wasmer is meant to execute any WebAssembly file and run on any platform. Wasmer currently runs on Mac, Linux and Windows. Lucet only works on Linux at the moment, since its main goal is to be executed on Fastly's infra.
2. We support multiple compiler backends: dynasm, cranelift and LLVM. Each with a tradeoff between runtime speed and compilation speed (more info here https://github.com/wasmerio/wasmer/tree/master/lib#backends ). Lucet's architecture only supports one backend at the moment.
3. Wasmer has multiple interfaces/ABI integrations, including Emscripten, and soon WASI. Lucet initially shipped with WASI support, which is awesome.
4. Wasmer has a C/C++ API and its runtime can be integrated with other languages (C/C++, Rust and PHP at the moment)
And, of course... a link to the project if anyone else wants to take a look! https://github.com/wasmerio/wasmer