Are there any objective reasons to choose one of the below options?
I don't know whether to go with drag image here, drop image here, or drag and drop image here?
Use the least amount of wording while still giving clear instructions.
Drag image here or Select Image
Maximum filesize: 2mb, allowed files: .jpeg, .png, .gif.
Its important to also give the user the option to browse his files instead of using drag & drop.
Also display the maximum file size and if you only allow a limited datatype tell the user too, so he knows before trying to upload a 10mb file and getting an error.
For me "Drag image here" means you dragging an image in the area, can bew misleading, but of course it depends on the audience, and since they know what's drag n drop it wont be problematic. Maybe "Drop image here" would be better, but i think both can work.
Or you can achieve this from another perspective:
Drag and drop area ///smaller font and lighter color but still visible/
Google Drive interaction message when trying to do the D&D is (draging any file over the interface):
"Drop files to upload them".
In case of empty state their message is:
"Drop files here
or use the "New" button".