First I suppose I should mention that referring to the Gods as having a Hierarchy is slightly misleading, as the "society", if you can call it that, of Gods does not follow typical rules to be considered as having such. However, the term "Hierarchy" is the most suitable one I've been able to find.
Technically speaking all Gods are equal in status, However, divisions and levels of social power do exist, albeit in an unofficial manner. Different "communities" of Gods, commonly referred to as Pantheons by the mortals of the Segemented Verse, tend to possess their own way of determining status. For example the Greek Pantheon, seen shortly on the mortal world of Earth before being executed by CoG for a wide range of acts against Reality, valued the number of Demigod children born between Gods and mortals, and determined status based upon how many such offspring a God had.
Zeus, a God who held the Authority of [Fire], granting him access to its progressed state, lightning, ruled the Pantheon due to his incredibly large number of Demigod offspring. Poseidon was a close second, and Hades, interestingly enough, was last. Unlike the other Greek Gods, including the "Maiden Goddesses", Hades actually had nearly no Demigod children, as he possessed a greater belief in the concepts his brethren had tossed aside, and was even responsible for alerting CoG of their attempts to break several Taboos. Hence, Hades is the only Greek God that still exists, although his location is unknown. Several leads seem to indicate that he is on Earth, or one of its nearby worlds, but Observation at this level seems incapable of finding him just yet.
Beyond the social means of identifying status, technically, the Authorities of the Gods, sometimes referred to as Divinities, should also indicate the status of a God in relation to others. Thus far, 18 Authorities of been discovered, although I suspect there are probably more. Those that are known, are as follows:
Authority
Title
Authority
Title
[The Four Elements]
God of The Four Elements
[Destiny]
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Prophet God
[Fire]
Elemental God
[Knowledge]
Scholar God
[Water]
[Wisdom]
Enlightened God
[Earth]
[Evolution]
God of Evolution
[Wind]
[War]
Political God
[The Opposites]
God of Balance
[Peace]
[Light]
Solar God
[Race]
Racial God
[Darkness]
Lunar God
[Life]
Vital God
[Reincarnation]
God of The Cycle
[Death]
As a cursory glance, it would seem that the divisions of power are obvious. Surely, the Elemental Gods obey the God of The Four Elements, and so on? But, in reality things are not that simple. Authorities are both very important and yet pointless to a God. Authorities determine how the Gods are allowed to interact with the mortal worlds, besides the use of their Dungeons, from before receiving their first Authority. Said Authority also represents what area the God manipulates, and even what blessings and curses can be delivered by them.
The Gods of The Four Elements, however many exist at once, can perform all of these acts through the power of all four base elements, Fire, Water, Earth, and WInd. However, they are limited to the base powers of these elements. For example, they can only control the aspects of Fire that relate to fire. More progressed aspects, such as lightning, are beyond their reach. On the other hand, an Elemental God can access all the power of their elements, including its upper levels and, should they possess multiple Authorities pertaining to the elements, even the fusions of these elements lie within their grasp.
The same kind of logic applies to all Authorities. Within The Dungeon Gods, it was noted that the reward for developing sentient life was becoming the Racial God of said life. This would seem to be a downgrade, until you realise the power of the [Race] Authority. It is the only Authority that allows for blessings of and interactions with mortals regardless of the Faith the God has accumulated. Any other Gods needs to have acquired Faith that, like how Mana is used to cast a spell, can be spent on various divine acts. Whats more, Racial Gods possess the ultimate authority over their sentient species.
They cannot outright forbid the power of other Authorities, such as [Death], from affecting the species, nor can they outright control the other Authorities, but, if they command that Wars shall be raged, pr Peace shall begin, the Political Gods will make it so. If they command that members of their race shall become Prophets, the Prophet Gods shall make it so. Should their instructions interact with the other Racial Gods, the other Gods serve as mediators. With this, one can easily see why the position of Racial God is heavily valued.