解:如图,过点$D$作$DE⊥ AB$于点$E,$
则$S_{\mathrm{菱形}ABCD}=AB· DE.$
$∵$菱形$ABCD$的对角线交于点$O,$$AC=16\ \mathrm{cm},$$BD=12\ \mathrm{cm},$
$∴AC⊥ BD,$$OA=\frac{1}{2}AC=8\ \mathrm{cm},$$OB=\frac{1}{2}BD=6\ \mathrm{cm},$
$∴AB=\sqrt{6^2+8^2}=10(\mathrm{cm}).$
又$∵S_{\mathrm{菱形}ABCD}=\frac{1}{2}AC· BD,$
$∴10DE=\frac{1}{2}×16×12,$
$∴DE=9.6\ \mathrm{cm},$
$∴$菱形$ABCD$的高为$9.6\ \mathrm{cm}.$