v Click for map v
I'm glad I uploaded this, it's starting to be useful.
Okay, first I'd like to clear something up: THe are two hyrules, but not in the way you described. There is an "Old" Hyrule, in which OoT, TP and soon SS take place in. Then there is a "New" Hyrule, which ST takes place in. Games take place in different provinces of these Hyrules, but the provinces are all part of one large land.
So, this is how I see the regions connecting (see map for visual):
Going by order of release, the first point of comparison is LoZ and AoL. It's been all but confirmed that LoZ's Hyrule is the small southern section of the much larger AoL overworld map. Despite the size and diversity of these two games, only two landmarks reappear in other games: Death Mountain and the Lost Woods. Both these happen to border the western edge- Going down you have Death Moutain, a graveyard at it's base, and the Lost Woods.
Now bring OoT into it. Look At ooT's eastern edge- Going down you have Death Mountain, Kakiriko Villiage (wich has a graveyard), and the Lost woods. So, logically, OoT takes place in a region west of LoZ/AoL Hyrule.
Notice I skipped ALttP- I will also be skipping the Four Swords titles for now, I'll address these later.
In MC, the only landmark it shares with other games is Lake Hylia. Hylia is noramll in the South-west, but in MC it's in the North-east. Logically this means MC would take place in a region south-west of the OoT region.
TP is in the same region as OoT, but covers a larger area.
Okay, I think this is a good point to address the oddities-
Alttp's overworld is strange, as it doesn't seem to fit with any other overworld. Most of it's locations are shared with OoT/TP Hyrule, but IN DIFFERENT PLACES. Rar.
Four Swords overworld is also an odd one. It can't really be explored, it's just a "stage select" that takes you to the game's dungens. Based on the position of Death Mountain, I'm guessing it's somewhere in the LoZ/AoL region.
FSA is even stranger. It's almost identical to the ALttP Hyrule, except that IT'S AN ISLAND! Many people used this as evidence that ALttP does follow WW- That the islands came back together or the sea drained or something. I'm not so sure.
As for the other countries, Holodrum and Labryna-
Holodrum I see as being south of Hyrule. Like, bordering it's southern side. It has the Lost Woods in it's North-western corner, whereas in relation to Hyrule the Lost Woods are somewhere in the middle, on the Southern border.
Labrynna I have no clue.
I never mentioned ST because it's seperate from the rest, in this "New" Hyrule. I may adrress it later, though, as it does srongly resemble the LoZ/AoL overworld.