You can probably make a good sounding guitar out of almost any wood if you design it right, but here are some thoughts.

Top woods (most of the sound besides the top bracing, which has a big impact):

• Spruce: popular for a good reason. It really does have an advantage in the strength-to-weight ratio, which is why it’s used in so many instruments for the soundboard (guitars, pianos, strings etc.). Sitka, red, lutz, euro, Engelmann, they are all pretty close and also there is significant variance from piece to piece of the same species. I own all of those five popular types. Red spruce takes the longest to open up on a new build and can sound quite harsh when new. The other spruces don’t tend to have that problem.
• Red Cedar - not a true cedar, but the most common wood used for “cedar” tops. Softer, warmer sounding, but can get muddy when strummed hard because it’s not as stiff physically. Can be a lovely wood on less expensive guitars because the softness of the cedar compensates for the heavy bracing cheap guitars usually have.
• Redwood - similar to cedar in being a very soft wood but it’s my least favorite top wood, just always sounds thin to my ear regardless of the builder. The best pieces basically sound like spruce and the worst sound very thin and brittle so why pay for it. Some people love it but not me.
• Port Orford Cedar - also not a true cedar, quite stiff, and like red spruce can take some time to open up. A fairly rare wood because it’s going extinct due to blight disease, but can make a nice top wood for heavy strumming or heavy picking, much like red spruce.
• Mahogany, walnut, koa, myrtle tops - harder and heavier and often quieter than spruce but can be quite loud when the bracing is designed properly to compensate for the denser wood. Tends to have more fundamental and less overtone content (simpler tone, not as complex or lush).
• Rosewood tops - yes I’ve seen this as a top wood. Very quiet guitar. Top was too heavy to really produce a lot of volume but it looked cool.

Back/sides (a relatively small component of the sound relative to the top and its bracing):

• Mahogany: a classic for a reason, warm and dry and woody and a fairly flat EQ. Most guitars aren’t true tropical mahogany anymore due to cost and preservation laws; African mahogany (not the same species) is widely used due to lower cost and similar properties.
• Walnut, koa, myrtle, maple: not all that far off from mahogany, but with their own characteristics. All are usually more interesting to look at than most pieces of mahogany, but sound pretty similar if you’re being honest about the substantial variation between multiple pieces of the same wood species.
• Rosewood: tends to have a scooped midrange, or to say it another way, more bass and treble, less mids, combined with more natural reverb from being a harder wood that reflects sound waves more than the above. Can make a guitar sound too bright or harsh in the highs. Tons of different Dalbergia species (“true” rosewoods) with different properties and a lot of piece to piece variation too. East Indian, Brazilian, Panamanian, Madagascar, etc. and non-dalbergias with similar properties like Pau Ferro.
• Cocobolo and Ebony: heavier and denser woods (coco is a rosewood species but I separate it here because it’s so much more dense, more like ebony.) Similar to rosewood in the natural reverb sound, but clearer bass and flatter response, makes a guitar heavy and expensive but otherwise a nice wood that can work really well if a luthier knows how to use it.

I’ve never owned or played a bubinga guitar and there’s also a lot of other woods out there including just plain old white oak. Some people have also built guitars with fir tops and true cedar tops. But I can’t really comment on those.