There are tremendous differences in the tone of acoustic and classical guitars. @Kijanki summed it up pretty well.
with fine, completely hand made classical guitars, the clarity, warmth and depth of tone are completely different from cheaper guitars. If you strum a chord, you can hear each individual note. It all blends together into an undifferentiated sound with lesser guitars.
the materials used are important, but the skill of the luthier is the most important thing.
flamenco and jazz guitars are designed to be less resonant. Players want the notes to fade out more quickly, so each note does not interfere with the one which preceded it. With a classical, you’re often playing 2 or 3 voices at the same time, and need the greater sustain.
better classicals are also louder and project into an audience more. Unfortunately it’s rare now to hear great players without amplification, which masks some of the tonal nuances.