I don't know about that. I'm a Stormcloak supporter myself, and I think that Ulfric is pretty racist. Also, rather ruthless, if you've ever read the history of Markarth.
I agree he is racist, but I think he is more racist at this point because he is fighting for the freedom of Skyrim. Obviously, you have to get your people on your side, and saying that you support their customs and traditions is a good way to win them over. Some of his followers are just flat out racist pricks, like one of the nobles in Windhelm (been about 3 days since I last played, can't remember name) who says "Every night, I walk around the grey district and tell those Dark Elves just what I think of them." Or something like that. Now that, is extremely racist.