If you combining all games with all power ups and Items Link wins by like 10000 tousand miles. He would not only have 10 ways to be invincilbe but would also have badass magic swords ranged weapons allies and not to mention the god of Hyrule always backs Link in the end. Kratos is a lone gunner, Link is not and never has been.
If you combining one GoW to one LoZ then link still wins, Arrows hurt Kratos in game just like deku nuts hurt link. Link has a horse and the Light arrows or Ice arrows or Fire arrows a sword that can shoot frigging lazer beams. Kratos also has Magic, Link has ways to relflect said magic Via Mirror shield. Kratos has limited life and potions so does link but in GoW 1 & 2 you can't carrier much, link has a magic pouch to store infinte amounts of anything this is and always has been a part of links armory.
The big thing everyone seems to be forgetting if you put both of them on a filed with nothing around them to give either home turf advantage link would still win as his arrows have no range limit and he can see forever via no horizon and 3rd person view.
Kratos in no of the GoW game I have yet to play can on his own view the world in anything but a Isometric type style, which means to hit or see link it would have to be on his screen which is thousands of times more compressed then links. View in front of you in a 1-1 fight > Viewing an area aroudn you.
I hate to go into such detail, but Kratos isnt a do all kill all do anything he wants charecter hes an emotional get revenge bound to rules type charecter to give him dynamics.
Link Samus FF charecters are do all, be all, end all, most powerful beings to ever enter video games they can power them selfs up way beyound need in any other there games. Kratos just scrapes by in hard modes for 99% of players and Link Samus and FF charecter totaly demolish anything in there paths at max power in there games.
Kratos is designed to be weak and emotional, Link has very little emotion and is not bound by laws. This is why I can beat temples in totaly wrong orders or in Metroid I can fit 250 missles in my arms, or in Final Fantasy I can remove all charecters but 1 from my party and still mop the floor with any boss in any of the games.
Lets face it though guys Mario with a Star > Any gory killer you can think of, because in the end nothing beats the star.