As a developer I feel my career advancement stagnating in its current trajectory.

This feels silly to ask, but is there merit to obtaining a masters degree as a software/design engineer to get to staff level one day?

My gut says experience and street cred matter way more but I'm curious what others think of the ROI.

father, husband, css booster, ux engineer, silently defining variables as /sdv sdv.wtf

We've been hiring developers for a decade, and never have I ever even asked where they went to school.  As long as they can code creatively and have experience, that's your masters.