There are lots of factors to consider, but the main thing is it needs to be comfortable for you. I have a friend who is the exact same height as I am, but we're built differently. She has a long torso and shorter legs. I have a shorter torso and longer legs. Her table height and chair settings don't work that well for me.
The surface of my table is 29" above the floor, and my sewing machine and extension table sit on top. This works best for me ergonomically. You should experiment to find what's most comfortable for you.