Switching Off to the side where it has your household heads (where you can manuever between each person) It keeps switching the order. From top to bottom its been my chick, my dude, and my teenager. Once it switched to my guy on top, and a few days (in game) it switched back. It just happened again. Does it mean anythiing?
Have your Sims been indulging in the "Green Stuff?" If the oldest Sim takes a drink, and becomes younger than the next sim, the second sim will be on top...until they take a little quaff of the Green Stuff...
Though it's not always exact. It doesn't always get birth order right if you have twins or other kids born on the same day. But generally, yes, it's in order of age. And in college it's weird, at least in my game. I've got freshmen on top of juniors in the stack.