Recently extended from the modern theory of electric polarization, quantized multipole topological insulators (QMTIs) describe higher-order multipole moments, lying in nested Wilson loops, which are inherently quantized by lattice symmetries. Overlooked in the past, QMTIs reveal new types of gapped boundaries, which themselves represent lower-dimensional topological phases and host topologically protected zero-dimensional (0D) corner states. Inspired by these pioneering theoretical predictions, tremendous efforts have been devoted to the experimental observation of topological quantized quadrupole phase in a variety of two dimensional (2D) metamaterials. However, due to stringent requirements of anti-commuting reflection symmetries in crystals, it has been challenging to achieve higher-order quantized multipole moments, such as octupole moments, in a realistic three-dimensional (3D) structure. Here, we overcome these challenges, and experimentally realize the acoustic analogue of a quantized octupole topological insulator (QOTIs) using negatively coupled resonators. We confirm by first-principle studies that our design possesses a quantized octupole topological phase, and experimentally demonstrate spectroscopic evidence of a topological hierarchy of states in our metamaterial, observing 3rd order corner states, 2nd order hinge states and 1st order surface states. Furthermore, we reveal topological phase transitions from higher- to lower-order multipole moments in altered designs of acoustic TIs. Our work offers a new pathway to explore higher-order topological states (HOTSs) in 3D classical platforms.