When hiring, will you consider an applicant with handful of volunteering experience on that role or applicant with a higher degree but no experience?

It's a classic dilemma, and there is no easy answer.

In this particular case, it would depend what's more important to you.  If you want somebody to hit the ground running and produce quick results, then you'd probably go for experience.  On the other hand, if you're more interested in long term potential, you might go for education.

When hiring, it's important to distinguish between skills (things which can be taught and learnt) and talent (things which are innate). 

In the end of the day, education beats experience, not least because experience can be gained by doing the job.  "Only a fool learns from experience.  The wise learn from the experience of others." - Bismarck.