Compared with standard-ply composites, thin-ply composites exhibit a superior mechanical performance under various operating conditions due to their positive size effects. Thin-ply laminate failure modes, including matrix initial damage (MID), matrix failure (MF), and fiber failure (FF), have been distinguished through a systematic acoustic emission (AE) signals analysis combined with scanning electron microscopy (SEM). First, the characteristic frequencies of various failure modes are identified based on unidirectional laminates ([90] 68 and [0] 68). Then, according to the identified frequencies corresponding to distinctive damage modes, four lay-up sequences (02[[90m/0m]ns]02, m = 1, 2, 4, 8, n × m = 16) with a constant total thickness are designed, and the effects of the number of identical plies in the laminate thickness on the damage evolution characteristics and the damage process under uniaxial tension loads are dynamically monitored. The obtained results indicate that the characteristic frequency ranges for MID, MF, and FF are identified as 0–85 kHz, 165–260 kHz, and 261–304 kHz, respectively. The thickness of identical plies has a significant effect on onset damage. With the decrease of the number of identical plies (i.e., m in the stacking sequences), the thin-ply laminates exhibit the initiation of damage suppression effects and crack propagation resistance.