It depends on if you go with freshly made or store-bought. And I think that biases some people's answers, because a lot of people have cooked pancakes before but don't have a waffle iron ready to make waffles. So there are likely some people who only had waffles in the form of Eggos and other store-bought junk. If that's the case, then of course pancakes are better. Even store-bought pancakes are fluffier than the overly crispy, overly processed store-bought waffle.
However, waffles straight off the iron are fantastic. They're light and fluffy like pancakes, but they have a texture unlike what you could get from their simpler brethren. And the Belgian variety is heavenly, especially if you take the time to add toppings like whip cream, chocolate syrup, and fruit (which seem to hold in place a bit better than on a pancake). And nobody ever has chicken & pancakes on the menu. (If you haven't tried chicken & waffles, you don't know what you're missing.)
As for their other brethren, french toast is good, but lacks the fluff factor. It does have one advantage in that it goes better with cinnamon than most others, but the others work better with fruit, which is a bigger advantage.
Crepes are okay, but I could never really get into them like with the others mentioned above. They're a little too light for a breakfast food. What's more, they are harder to make and tend to be priced uncompetitively against the others.
As for donuts, it depends. Dunkin' is a shadow of its former self. They are mostly sugar now, never freshly baked, and their "get a free donut with your coffee" deal annoys me because that "donut" doesn't apply to all donuts that they sell. Nonetheless, I have enjoyed some from independent donut shops, which are doing well with the fancier stuff these days (which Dunkin seems to just screw up whenever they apply their austerity practices to them).
