acoustic panels to muffle noise from water pipes?

Hi there, apologies if this has been asked before. I live in an apartment building that appears to have cheaped out on some things in the building process, and I can hear the noise of water running through the pipes in the wall I share with the building lounge. I am on the bottom floor of a high rise, and someone with more building construction knowledge than me is guessing there is a tank behind the wall and I’m hearing the water draining from all the above floors going down. It isn’t loud enough for strata to deem it as excessive according to building code, but it is distractingly loud and almost constant.

Would acoustic panels attached to my side of the wall assist in quieting this noise? I know adding anything to the wall/filling the room more will help dampen noise, and acoustic panels seem to be more directed at keeping noise inside from going out, but I’m wondering if putting panels possibly over the entire wall would help or just be a waste of money.

Thanks in advance!