It not only lets them stretch their legs, get a bite or two of green 
grass, etc.  It lets them cough out any "road trash" that's been 
accumulating in their bronchial system.  It's hard for horses to do 
this in a trailer.
Some horses are reluctant to urinate in a trailer and will hold it 
longer than is good for them unless they are let off and can make a 
"nature call" on grass.
Besides, it makes the trip more pleasant for them.  Don't you like to 
get out of the truck, walk a bit, and visit the rest room from time 
to time?
The best places are public rest areas (away from the main traffic 
flow) or grassy fields next to service stations.  Very few of them 
mind you doing this as long as you clean up any "road apples."  
Of course, offer your horses clean water at every opportunity, and 
plenty of good hay.  Hosing down is not necessary, although it might 
help on a particularly hot trip.
Good luck!
--Joe Long jlong@hiwaay.net