When I was a kid it was stockings first in Parents bedroom.
Then we went downstairs to see if he had been...
Presents in a pile for each person.
Breakfast then free for all.
Now we do stocking, a few presents for daughter to open on her own, then wait for the family to arrive and open one at a time together with kids handing them out.
Both work well IMHO - the thing is to do it the same every year. Whatever it is the kids like to know what will happen and how it happens.