Here is how I go about it.
Potential Synopsys: Lets say for example you have a sports complex. The entire complex may be represented by a large polygon, while you would like the club house to be situated on the complex polygon and the club house kitchen on the club house polygon. But when one views the layer the large polygon overshadows all the smaller ones making it difficult or impossible to view.
This is what you could do to correct the issue within ARC View or ARC Editor:
1.) Click on the layer you wish to display
2.) right click while on the layer and select Properties
3.) Layer Properties will appear, Select the 5th Tab from the right called Symbology
4.) Select Unique Symbology and Adjust Symbols or Color Choices according to your needs
5.) Select Advanced at the bottom of the page (See Below then move down for step 6.)
Step 6.) once you have selected Advanced you will be able to Select Symbol Levels and set the priority in which various categories in your layer may be displayed. Polygons you wish to display at the top or visually above, should be given the higher numbers while Larger polygons with lower visual priority are given lower numbers. [In this case I wanted the Community Centre to appear above the Stadium and the stadium above the Complex]
The Result: