cancel vs counteract

cancel is a noun but counteract is not a noun.

Word	Noun	Adjective	Verb	Adverb
cancel	Yes	No	Yes	No
counteract	No	No	Yes	No

As verbs, counteract is a hyponym of cancel; that is, counteract is a word with a more specific, narrower meaning than cancel:

Other hyponyms of cancel include counterbalance, countervail, neutralize.

cancel (noun)	counteract (noun)
a notation cancelling a previous sharp or flat

cancel (verb)	counteract (verb)
make invalid for use	act in opposition to
remove or make invisible	destroy property or hinder normal operations
declare null and void; make ineffective	oppose or check by a counteraction
postpone indefinitely or annul something that was scheduled	oppose and mitigate the effects of by contrary actions
make up for