The correct increasing order of acidity is:
C2H2, H2O, phenol, H2CO3
C2H2 have acidic nature but it is less acidic than water. Phenol is more acidic than water due to resonance stabilisation of phenoxide ion. H2CO3 is most acidic due to reasonating stabilisation of carbonate ion (CO2−3).
Thus, the correct order is C2H2<H2O<phenol<H2CO3