I currently don't work from home on a regular basis, although I do put in some time once a month patching my production servers.  To be honest, I don't mind coming into the office as for me the background noise is "white noise."  I tune it out but if it's not there, I have a hard time focusing.

So, when I do the once a month thing, seeing as my home office also has my personal desktop, I fire up Netflix streaming on my personal PC, pick a TV series that I don't need to focus on (Highway Through Hell is a good choice,) and get to work.  I'd say I'm about as productive as I would be in the office, and seeing as it's generally on the weekends I patch I don't have to worry about instant messaging interruptions or "drive by" interruptions.  Once we get some issues with accessing my servers through VPN I may start working from home once a week, as I'll then be able to use my home lab to set up and test some ideas I've had to improve my server monitoring.
As for why I don't do that in-office, they're extremely fussy about doing any sort of "development" work on production / QA systems (as am I,) and I don't have a development system to "play" on.