That's been thought of many times before. Clover's got the superior reach, but Godzilla's smarter, stronger and has ranged capabilities. He'd snap Clover's spindly limbs in two and remain King of Monsters.
He'd also easily kick the crap out of nearly every kaiju and jaeger in Pacific Rim, with only the constantly evolving one from Hong Kong and the last one to come out of the rift being capable of giving him some sort of challenge.