The following is very rough, generalized information. Coolers that seem to fit into one tier can actually be a tier higher or lower if they’re well-designed or poorly designed, respectively. So, take this with a grain of salt.
Tier 1: 280/360/420mm liquid coolers, humongous air coolers
Most AIOs with a 280/360/420mm AIO fit into this tier. We’d go for an AIO from a well-known brand like Corsair, Cooler Master, or Deepcool, but if you have a personal or aesthetic preference, it’s probably not too critical to go for it.
Especially beefy air-cooled heatsinks also fit into this tier. This subject is quite controversial, so please do your own research if you’re looking for a top-of-the-line heatsink. Specifically, look for benchmarks featuring the CPU you’re planning to buy, and your workload (gaming, rendering, video editing, etc).
Deepcool’s Assassin III and Thermalright’s Silver Arrow IB-E Extreme are (subjective) examples of the latter. At the time of writing, Logical Increments uses this class of cooling for the Extremist and Monstrous tiers of our main chart.
Tier 2: 240mm liquid coolers, high-end air coolers
Most 240mm AIOs fit into this tier. Again, when in doubt, look for well-known brands.
The rest of the air-cooled heatsinks advertised as “high-end” fit into this tier. Some examples include Noctua’s NH-D15, be quiet!'s Dark Rock Pro 4, and Corsair's A500.
Tier 3: low-end 240mm liquid coolers, upper-midrange air coolers
This tier consists of 240mm AIOs that aren’t as well-performing as their Tier 2 counterparts (and cost less), and most midrange air-cooled heatsinks. This level of cooling is currently only used by the Enthusiast tier.
Tier 4: 120/140mm liquid coolers
AIOs with 120mm or 140mm radiators fit into this tier. Generally, however, buying these isn’t a very good decision outside of maybe aesthetics, as they cost more than the heatsinks from Tier 3 but perform a lot worse.
Not something we’d usually recommend buying, except in special circumstances (like certain small form factor builds, perhaps), as most people considering this tier would get better results from the less-expensive options in Tier 5 or the better-performing options in Tier 3.
Tier 5: Budget/midrange (tower-style) air coolers
A lot of fairly well-known budget heatsinks are in this tier: Cooler Master's Hyper 212 EVO V2, be quiet!’s Pure Rock 2, and Noctua's NH-U12S Redux.
Logical Increments uses coolers from this class across many tiers. While technically low on a tier list like this that surveys the whole market, this level of cooling is very popular for modern PCs as it generally has the best balance of price and performance. In fact, over on the main PC chart, all the builds from the Fair tier up to the Exceptional tier recommend coolers that would fit in this tier.
Tier 6: Low-profile air coolers, stock air coolers
Unfortunately for SFFPC lovers, low-profile heatsinks usually end up here, alongside most stock coolers included in the box with CPUs from AMD and Intel. This includes Noctua'’'s NH-L9i and CryoRig's CryoRig's C7.