I think everyone knows that there's only one correct answer and that's phase cancellation because the dry vocal track is typically dead center in the mix.

Here it happens because when the earphones' ground connection is disconnected from the source, the earpiece drivers remain connected to the L and R hot signals and their former common grounding point floats and leaves them in-series. This means that any signal present equally on L and R results in no current through the transducers. You hear only the difference signal in both ears, although to be precise, one is actually opposite in polarity.