The balcony seats reserved for students and young tourists felt like [they were] located on [a steep] cliff, looking down [on] all the heads in the better seats rather than [at] the stage.

balcony 指"阳台"，在剧院建筑中指"楼座/楼厅"，位于观众席上方的悬挑式座位区，通常视野较高但距离舞台较远。 on 表示"在...上面"，强调接触表面；at 表示"在...处"，强调位置点。这里用 on 表示视线落在观众头顶的表面，用 at 表示视线指向舞台这个位置点。 steep 形容"陡峭的"，描述楼厅座位区与主观众席之间的高度落差很大，就像悬崖一样几乎垂直。 they were 是省略结构，完整形式是"the seats felt like they were located..."，用被动语态描述座位的位置状态。