I'd probably put 2007 at the top and Bumblebee either tied with it (both good, in different ways) or second. The former is still only partly held down by Bayhem as it's early days yet, and has a handful of indelible moments of spectacle that actually have weight. And it's a full cast on both sides. The latter's smaller scale makes it a great personal story, but it doesn't feel as fully "Autobots vs. Decepticons" for that reason.
TF One is a very solid movie, and generally the most "complete" one, but even then I don't know if I'd put it up against those. It doesn't have the impact or spectacle if 2007 or the emotional warmth of Bumblebee. But just on quality and avoiding crassness or slow moments i wouldn't disagree with higher rankings for it.
1986 wouldn't rank that high outside of a nostalgia boost, as narratively it's not really that good. After Autobot City it's seemingly random hijinks as the heroes just react to things until the Matrix magically fixes everything because we're out of time. Character growth, same thing. Looks and sounds amazing, though.
Then it's probably DOTM, and the rest are tied for last. After the massive letdown that ROTF was, the live-action movies became more useful as opportunities for Jablonsky to release more awesome music (one of the few bright spots from say AOE) and as a junkyard from which to cherry-pick lore bits and characters to repurpose.