The context makes it clear who had stab wounds. I don't see anything wrong with the headline, or with your alternative. Both are ok.

Alternatively, it could say:

Passer-by finds victim with stab wounds.

Or

Passer-by finds stab wound victim.

The context makes it clear who had stab wounds. I don't see anything wrong with the headline, or with your alternative. Both are ok.

Alternatively, it could say:

Passer-by finds victim with stab wounds.

The context makes it clear who had stab wounds. I don't see anything wrong with the headline, or with your alternative. Both are ok.

Alternatively, it could say:

Passer-by finds victim with stab wounds.

The context makes it clear who had stab wounds. I don't see anything wrong with the headline, or with your alternative. Both are ok.

Alternatively, it could say:

Passer-by finds victim with stab wounds.

Or

Passer-by finds stab wound victim.