merrymaking vs revelry

merrymaking and revelry both are nouns.

Word	Noun	Adjective	Verb	Adverb
merrymaking	Yes	No	No	No
revelry	Yes	No	No	No

As nouns, revelry is a hyponym of merrymaking; that is, revelry is a word with a more specific, narrower meaning than merrymaking:

Other hyponyms of merrymaking include high jinks, high jinx, hijinks, jinks, revel.

merrymaking (noun)	revelry (noun)
a boisterous celebration; a merry festivity	unrestrained merrymaking