Primitive values are stored in a stack in javascript but objects are stored in a heap. I understand why to store primitives in stack but any reason why objects are stored in heaps?
The size of objects can grow dynamically. Therefore, you would need to adjust their memory requirements. That is why, they are stored in heap.
Actually, in JavaScript even primitives are stored in the heap rather than on a stack. When control enters a function, an execution context (an object) for that call to the function is created, which has a variable object. All vars and arguments to the function (plus a couple of other things) are properties of that anonymous variable object, exactly like other properties of named objects. A call stack is used, but the spec doesn't require the stack be used for "local" variable storage, and JavaScript's closures would make using a stack a'la C, C++, etc. for that impractical. Details in the spec.
Instead, a chain (linked list) is used. When you refer to an unqualified symbol, the interpreter checks the variable object for the current execution context to see if it has a property for that name. If so, it gets used; if not, the next variable object in the scope chain is checked (note that this is in the lexical order, not the call order like a call stack), and so on until the global execution context is reached (the global execution context has a variable object just like any other execution context does). The variable object for the global EC is the only one we can directly access in code: this points to it in global scope code (and in any function called without this being explicitly set). (On browsers, we have another way of accessing it directly: The global variable object has a property called window that it uses to point to itself.)
Re your question of why objects are stored in the heap: Because they can be created and released independently of one another. C, C++, and others that use a stack for local variables can do so because variables can (and should) be destroyed when the function returns. A stack is a nice efficient way to do that. But objects aren't created an destroyed in that straightforward a way; three objects created at the same time can have radically different lifecycles, so a stack doesn't make sense for them. And since JavaScript's locals are stored on objects and those objects have a lifecycle that's (potentially) unrelated to the function returning...well, you get the idea. :-)
Both primitive values and objects are always stored in some other object - they are properties of some object.
There is not one primitive value / object that is not a property of another object. (The only exception here is the global object).