Technically speaking, cloud hosting provides you with a server for example whose resources can be changed on-the-fly.
For example a ubuntu linux server whose RAM or hard disk space can be increased whenever you want. That is the basic idea behind cloud.
I use linode.com vps servers. They are cloudy and provide a neat linux environment where you have to configure everything from the shell
Amazon also provides cloudy servers but they are too cloudy. Technically speaking they are difficult to configure for newbies.
So if you just want a simple gui interface like cPanel or directadmin go with some decent quality shared hosting provider.
If you are a linux geek who knows how to ride the SHELL/CONSOLE and wants some uber performance, then go for linode/digitalocean kind of cloud linux servers.
Having said that, I do no claim any responsibility for my suggestions, those are just my opinions.