Example. Say $X=\mathbb{R}$ and $d(x,y)=\frac{d_0(x,y)}{1+d_0(x,y)}$ where $d_0(x,y)=|x-y|$ is the Euclidean metric.
The visualization of e.g. $\mathbb{R}$ with Eucledian distance $d_0(x,y)=|x-y|$ is clear, because it coincides with the intuitive distance between two points on a real line.
However if one changes the metric to be $d(x,y)=\frac{d_0(x,y)}{1+d_0(x,y)}$ it seems not obvious to me what a visualization could look like. Changing the metric of course changes the open and closed sets; how do these changed open and closed sets look on the real line?
Say $(X,d)$ is a metric space. The open discs in $X$ form a base for the topology induced by $d$.
An open disc $D_\epsilon (x)$ with radius $\epsilon>0$ and midpoint $x\in X$ in a metric space $(X,d)$ is defined as $$D_\epsilon (x):=\{y\in X| d(x,y)<\epsilon\}$$
For $X=\mathbb{R}$ and $d(x,y)=\frac{|x-y|}{1+|x-y|}$ these are some examples of open discs $$D_{1/2}(0)=(-1,1)$$ $$D_{2/3}(0)=(-2,2)$$ $$D_{3/4}(0)=(-3,3)$$
Generally:
$$D_{n/(n+1)}(x)=(x-n,x+n)$$
Saying this means, that you can still visualize the open sets in $X=\mathbb{R}$ induced by above metric as unions of open intervals in $\mathbb{R}$ - the changed metric in your case did not alter the open (and the closed) sets / the metrics induce the same topology.