I realize I'm a bit late to the party, but here's my take on a Domina tier list.
S
Madeline: This one is obvious given my username. There is nothing I would change about Madeline, 10/10 Domina overall, and by far the nicest too (not counting Llavanya obviously).
A
Narcissa: Cutest Domina by far and was my introduction to the game, so even though I prefer Madeline by a long shot, Narcissa will always hold a special place in my heart.
Katrina: Katrina is what I would call simple yet effective, she's your typical dominatrix all around but does a great job at it. Her in-battle scenes are also very hot. I sort of feel bad for her in a way, it seems to me like she just wants to be loved but hides it beneath her dark exterior (she is surprisingly affectionate in some scenes). It's also a shame that her loyalty route went out the window due to plot.
Rosita: Ass worship scenes are very hot (when farting isn't involved, which is rarely). Cannibalism is a massive turn off, so I like to pretend it didn't happen. Other than that, she's your typical mommy dom which is nice.
B
Llavanya: The kindest Domina (she's literally an angel). I love her design and personality, but no scenes (yet) means she goes no higher than B unfortunately.
Grim Reaper: He was cool before his retcon in the Hora update, which I also like to pretend didn't happen. His blunt attitude in the early game is funny, and he's not afraid to punish disrespect. Playing with the Devil never pays.
Hora: Having three forms is a very good concept. I love her design, but her scenes are okay at best.
C
Mika: Double ass worship is hot I suppose, but other than that, Mika's assigned fetishes don't really appeal to me. Still better than her psychopath of a sister in any case.
Maki: She's really just a worse Mika in my opinion. Her forced stuttering is obnoxious and her specific scenes are worse than Mika's. But maybe I'm being too harsh on Maki. She may be a psychopath, but at least she stops her torture when asked, which is a redeeming quality in and of itself.
D
Raa: Raa just doesn't do it for me. Her realm annoyed me even though I liked the Egyptian style, and the lack of loss scenes hurts badly. She also gets minus points for the Hora incident.
F
Mary: You might as well say Mary is the 'main antagonist' of Domina. Of course Selena is probably more evil (and is the mastermind behind the Grand Plan), but considering what Mary did to Llavanya, and how many times she defeats Edgar, I would say she's the closest thing we currently have. Her basement is soaked in the blood of previous champions, and their mangled skeletal corpses litter the floor in abundance. Mary is 100% evil, and even has the audacity to claim it's the best outcome for Earth. Her scenes are also very boring and uninteresting. She herself doesn't even seem to be having fun in them. Now with all that being said, who could POSSIBLY be worse than Mary? Oh, right..
Franziska: What's worse than killing to prove a point? Killing for the sake of it. Franziska is a monster. Her scenes are awful to watch, and she kills innocent people solely because she enjoys it. At least with the likes of Mary and say, Katrina, you can avoid getting slaughtered by staying on their good side. Hell, Katrina even looks as though she would spare you if you begged her enough (in fact she probably likes hearing slaves beg for mercy). But Franziska? Nothing can save you. If she decides to disembowel you with your own spine, it's going to happen. Good side, bad side, it doesn't matter, and begging for mercy probably only increases your chances of getting skewered. Franziska is not only merciless, but unpredictable and downright horrific. After a certain point, it isn't even domination anymore, but just straight up brutality. And Franziska is well beyond that point. There will never, in my opinion, exist a Domina worse than Franziska.