Step 1: Understanding the Concept:
Acidity is determined by the stability of the conjugate base formed after the loss of a proton ($H^+$). The more stable the anion, the stronger the acid.
Step 2: Detailed Explanation:
1. Alcohols (Ethanol/Methanol): Form alkoxide ions. These are the least stable because there is no resonance to spread the negative charge.
2. Phenol: Forms a phenoxide ion. The negative charge is delocalized over the benzene ring via resonance, making it much more acidic than alcohols.
3. Acetic acid: Forms an acetate ion ($CH_3COO^-$). Here, the negative charge is delocalized over two highly electronegative oxygen atoms. Resonance between equivalent oxygen atoms provides much greater stability than resonance in a carbon ring.
Step 3: Final Answer:
Acetic acid has the highest acidity among the given options.