Latter Day Saints will, on the one hand, assent to a multiplicity of Gods with humans being capable of being exalted to the same level of God as God the Father in the Bible. God the Father may have once been a mortal being such as we are.
On the other hand Latter Day Saint theology would not necessarily label itself as polytheistic or henotheistic. Instead their stance is that, regardless of the existence of other (equal) Gods, there is only one God whom we can and should worship now and only one God who responds and interacts with us.
Are these multiple Gods all part of our universe and, if so, do they have an agreement amongst themselves to stay out of each other's "plans of salvation" or is LDS postulating more of a multi-verse scenario where all of the various Gods are actually isolated from each other and cannot interfere?