As far as I know, if you want to consider the whole aquatic ecosystem of the world, they are the largest carbon pools, But for living component, forests which are a terrestrial ecosystem store more carbon than other living components of the world.
The Earth’s oceans contain 38,000 PgC, most of which is in the form of dissolved inorganic carbon stored at great depths where it resides for long periods of time. Marine biomass is about 3 PgC while terrestrial slants stored 2300 PgC in their tissues.
The effect of more carbon dioxide dissolved in marine water will be catastrophic for particularly mollusks as "http://worldoceanreview.com/en/wor-1/ocean-chemistry/acidification/" could explain : There is a permanent exchange of gas between the air and the ocean. If the CO2 levels in the atmosphere increase, then the concentrations in the near-surface layers of the ocean increase accordingly. The dissolved carbon dioxide reacts to some extent to form carbonic acid. This reaction releases protons, which leads to acidification of the seawater. The pH values drop. It has been demonstrated that the pH value of seawater has in fact already fallen, parallel to the carbon dioxide increase in the atmosphere, by an average of 0.1 units. Depending on the future trend of carbon dioxide emissions, this value could fall by another 0.3 to 0.4 units by the end of this century. This may appear to be negligible, but in fact it is equivalent to an increased proton concentration of 100 to 150 per cent".
The effects are then : The currently observed increase of CO2 concentrations in the oceans is, in terms of its magnitude and rate, unparalleled in the evolutionary history of the past 20 million years. It is therefore very uncertain to what extent the marine fauna can adapt to it over extended time periods. After all, the low pH values in seawater have an adverse effect on the formation of carbonate minerals, which is critical for many invertebrate marine animals with carbonate skeletons, such as mussels, corals or sea urchins", in the same reference, many thanks to Hormoz Sohrabi.