Currently there is now way to change the parent-child relationships between nodes applicationside.
There are some cases where this might be desirable, although in most cases a plugin giving the option to select multiple images might work as well.
Miklos, maybe you can fill us in on any specific use cases you have in mind?
Changing the hierarchy can have very dire consequences if certain plugins expect the derived images to have specific properties similar to their parents (such as similar image geometries etc.). So it might be advisable to make this option available on a case by case basis.
Would an extended context menu work for you, where you e.g. select two nodes in the datamanage and get the option to change the parent-child relations on a right click?
This ties into T15560