I would be most worried that you are seeing symptoms of heart disease and would suggest that you see your vet tomorrow for an EKG and possibly an ultrasound if the exam proves this theory.
When the body is at rest, it taxes the heart every time that you wake up, partially because of the movements of the body and partially because of the extra respirations required. So, this could be why you are seeing these symptoms.
You might also see a cough, noise, or increased respirations when eating and when the dog is excited.
So, go ahead and see your vet and have him rule this out.
Aside from a heart condition, stress and pain can also cause increased resps. So, do take this seriously. You don't want to take any chances with a pet this age.
Let me know if you still have questions.
