You can link layers to have them move together on the image canvas when you move one layer with the Move tool.
You can link grouped layers, which allows all layers within a layer group to move together on the image canvas. You can also link individual layers from different layer groups and move them together without moving other layers in the layer group.
Does linking affect the stacking order?
Linking does not affect the stacking order; it affects only the movements you make with the Move tool on the image canvas. The only way to move layers together in the stacking order is to group them. When you move a layer group in the stacking order, all layers move, regardless of whether the group is linked or unlinked.
You can also link or unlink a group by double-clicking the layer group to display the Layer Properties dialog box, marking or unmarking the Group is linked check box, and clicking OK.