counteract vs cancel

counteract is not a noun while cancel is a noun.

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

As verbs, cancel is a hypernym of counteract; that is, cancel is a word with a broader meaning than counteract:

Other hypernyms of counteract include offset, set off.

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

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