Without the stackrel package, \stackrel is defined in ltxmath.dtx as
\def\stackrel#1#2{\mathrel{\mathop{#2}\limits^{#1}}}
which typesets a relational operator with a top limit (effectively placing it on top). Heiko Oberdiek's stackrel package is said to provide an
Enhancement to the \stackrel command.
This "enhancement" provides an optional argument to \stackrel for placing something below the relational operator (using a similar process as the original \stackrel). Additionally, it provides a counterpart for binary relations called \stackbin. The difference between the two (or when to use which one) is contained within the post What is the difference between \mathbin vs. \mathrel? Here is a similar take on the use of stackrel.

\documentclass{article}
\usepackage{stackrel}% http://ctan.org/pkg/stackrel
\begin{document}
\begin{tabular}{clc}
\multicolumn{3}{c}{Relations} \\[5pt]
\LaTeX & Typeset & width \\ \hline
\verb|$x=x$| & $x=x$ & \setbox0=\hbox{$x=x$} \the\wd0 \\
\verb|$x\stackbin[c]{a}{=}x$| & $x\stackbin[c]{a}{=}x$ & \setbox0=\hbox{$x\stackbin[c]{a}{=}x$} \the\wd0 \\
\verb|$x\stackrel[c]{a}{=}x$| & $x\stackrel[c]{a}{=}x$ & \setbox0=\hbox{$x\stackrel[c]{a}{=}x$} \the\wd0 \\[10pt]
\multicolumn{3}{c}{Binary operators} \\[5pt]
\LaTeX & Typeset & width \\ \hline
\verb|$x+x$| & $x+x$ & \setbox0=\hbox{$x+x$} \the\wd0 \\
\verb|$x\stackbin[c]{a}{+}x$| & $x\stackbin[c]{a}{+}x$ & \setbox0=\hbox{$x\stackbin[c]{a}{+}x$} \the\wd0 \\
\verb|$x\stackrel[c]{a}{+}x$| & $x\stackrel[c]{a}{+}x$ & \setbox0=\hbox{$x\stackrel[c]{a}{+}x$} \the\wd0
\end{tabular}
\end{document}
Note the equivalent spacing using \stackrel with =, while similar spacing is returned using \stackbin and +. In essence, use \stackrel for relational operators, and \stackbin for binary operators.
\mathbinand\mathrelwhich can be found in what is the difference betweenmathbinvs.mathrel– percusse Dec 24 '11 at 3:36\stackrel(or\stackbin) choice, then you can use\usepackage{amsmath,stackrel}$a\stackrel{\text{\makebox[0pt]{abc}}}{=}b$. This typesetsabcin text mode in the appropriate font size without any width, and would therefore not influence math spacing.\stackreland\stackbintypically only have narrow entries on top of/below them. Is this what you might be after? – Werner Dec 24 '11 at 4:05arrayortabularthat is vertically centered, or use\stackrel. Either way, this seems to be a departure from your current question which relates specifically to\stackreland\stackbin. – Werner Dec 24 '11 at 4:45