"You have exalted your Name and your Word above all" (138:2). What does that mean?

The psalm doesn't explain the line, and the Hebrew can be joined in more than one way. Word for word it runs: ki, for; higdalta, you have made great, a form Brown-Driver-Briggs gives as "make great"; al, above; kol, all; shimkha, your name; imratekha, your word (tap Word). There is no and in the Hebrew. The WEB supplies it and reads your Name and your Word as two things made great above all: "for you have exalted your Name and your Word above all" (138:2). Taken in the Hebrew order, above all your name stand together and your word comes last, so the line can also be read as the LORD making his word great above all his name. Either way the verse sets the two side by side: the name the psalmist thanks in the same verse, "give thanks to your Name" (138:2), and the LORD's word. Two verses on, the kings "have heard the words of your mouth" (138:4), and there words is emer. Strong's gives imrah as the "feminine of 561", emer, "and meaning the same" (tap words). These notes don't choose between the readings.