First I will say I HATE the racial modifiers that Larian chose to use. I wish they would go back to the PHB and not use custom for that.

Next ranking the races to me is more about personal choice than one actually being "better" than another. By level 5 or 6 most "advantages" with the current system have vanished.

My two Favorite races are Human and Dwarf, next is Half Elf. After that I really, personally, do not care. I would probably rank Hobbit after Half Elf. My choices BTW are about my RP, not the mechanics.