Answer
Stacking wave springs in series (crest-to-crest) increases the total deflection $f_{total} = f_1 + f_2$ while keeping the load $P$ constant. The risk here is buckling; if the free height to diameter ratio exceeds 3:1, the stack may tilt. Stacking in parallel (nested) increases the load $P_{total} = P_1 + P_2$ for a given deflection. The risk in parallel stacking is uneven load distribution if the waves are not perfectly aligned, leading to localized over-stressing. Proper guides (shafts or bores) are mandatory for all stacked configurations to ensure axial alignment.