It depends on if you're asking which is better for the fans, or better for the team that wins. A Stanley cup final that goes seven games will be much more exciting for the fans because the final game 7 is the biggest do or die situation of most of the players lives. It also might be better for the team that wins that final game because if they win in 7 games it means they had to fight hard for the championship and therefore might have a greater sense of accomplishment. However, if a team wins the final in four games, it means that they are far superior to the other team and that could be considered as better.
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First round eight teams in each conference, best out of seven. Second round four teams in each conference, best out of seven. Third round two teams in each division, best out of seven. Last round the last team standing in each conference play each other for the Stanley Cup.
in the Stanley cup playoffs, teams compete in a best of seven series in each round