equipment room design is not based upon any "standard" rather as the first answer said, based upon certain parameters. These parameters include but are not limited to: recommended air flow and operating temperature ranges, the size of the room where servers will be placed, the # of servers, the availability of cooling [A/C] the rate in which the cooling keeps the room at an ambient temperature, the cfm of fans in servers [draw], the # of fans in servers [total draw], the heat production of CPUs, power supplies, hard drives, etc.
A very large equipment room housing servers with industrial central air conditioning is far different than a small open area in a small office.
Then there is convection e.g. cold air sinks, warm air rises and thermalcline. There will be an area within a room a certain height from the floor, and a certain depth, in which cold air and warm air meet and the temperature gradient is sharp. Therefore having servers low helps keep them cool.
to recap, There is no standard rather an set of parameters in which to design to.