In this study, non-hybrid and hybrid (Kevlar, carbon and glass) fabric epoxy composite laminates were fabricated with different stacking sequences by hand lay-up followed by hot-compression molding. Experimental tests were conducted to investigate tensile, flexural, and hardness characteristics. It was found that the stacking sequence did not significantly affect the tensile strength and hardness values of the composites; however, it affected their flexural strength. Damage morphology of the specimens through SEM images showed that the major damage mechanisms in the composites were delamination, fiber breakage, pull-out, and matrix cracking. Based on the static experimental results, the high-velocity impact behavior was investigated through simulation study using LS-DYNA finite element analysis (FEA) software. To study the ballistic impact, a steel projectile with a hemispherical penetrating edge at impact velocities of 100 m.s−1, 250 m.s−1, and 350 m.s−1 was considered. Among non-hybrid fabric epoxy composite specimens, Kevlar/epoxy specimen was found to have the highest impact energy absorption followed by carbon/epoxy and glass/epoxy, respectively. Regarding the hybrid fabric epoxy composite specimens, the ones with Kevlar plies in the rear face exhibited better energy absorption compared to other stacking sequences. The non-hybrid glass/epoxy specimen had the lowest energy absorption and highest post-impact residual velocity of projectile among all specimens. From the FEA results, it was noted that impact resistance of hybrid composites improved when Kevlar fabric was placed in the rear layer. Thus, the stacking sequence was observed to be of substantial importance in the development of fabric-reinforced composite laminates for high-velocity impact applications.