This is a phrase largely equivilent to fucked up or screwed up. It roughly means "in a state of disarray" and is commonly used in the phrase "to jack someone/something up". In some cases, the meaning may be slightly altered by the fact that to get "jacked" can mean to be struck or injured.
That's jacked up man. I can't belive your girlfriend is cheating on you.
I got in a wreck last night. My car got totally jacked up.
By Issie
Jacked Up
1. not working properly or as intended.
2. having used a large quantity of speed, cocaine, or other amphetamine.
3. cut or lacerated by means of a make-shift knife or blade. see SKIV 4. In generally poor or injured condition.
sense "1": "This is so JACKED UP! She said she'd be here at eight!"
sense "4": "I want to play, but my shoulder's still JACKED UP from last weekend.
By Roxanne
Jacked Up
In the military, to be given a stern talking-to by an NCO for some offense or omission.
"We all got jacked up this morning for calling him 'sergeant-major' instead of RSM."
"On course they'll jack you up if you aren't wearing dress uniform in your ID photo."
Refers to pricing of items for sale. Generally implies that the marked price is higher than the item is worth for marketing reasons (to get a higher discounted sale price), or raised due to high demand (gouge price).
Some sale! These prices are all jacked up!
The car price is jacked up $3000 over list because no one has any left on the lot!