Well, if you're not following me, I may still be misunderstanding the question.
In 1 Corinthians 8:5-6, the Apostle Paul is recorded as having said, "For though there be that are called gods, whether in heaven or in earth, (as there be gods many, and lords many,) But to us there is but one God, the Father, of whom are all things, and we in him; and one Lord Jesus Christ, by whom are all things, and we by him."
The LDS view is that there is only one God (with a capital 'G') but that there are beings referred to in the Bible (in the verse I just quoted as well as in several others) as "gods." There are times when these are clearly false gods. At other times, though, it appears from the context in which the word "gods" is used that they are perhaps divine beings of some sort who also look to our "God" as the greatest among them. The Bible doesn't really explain who they are or what their roles are. It just refers to "God" as "G
od of gods, and Lord of lords, [and] a great God." If we just arbitrarily assume that all of the "gods" mentioned are false gods, what does that make our God -- the God of false gods? Of course not.
Anyway, we don't know anything about these gods, except that they have no power or jurisdiction in our lives. We don't pray to them, because they can't answer our prayers. We don't worship them, because they have done nothing for us, nor do they have the ability to. As far as we're concerned, they simply appear to exist.
So, moving on to the concept of a "multiverse" as opposed to a "universe," here is a story you might find interesting. Think of the main character, Laura, as representing God.
Laura worked in a store of a large supermarket chain, climbing up the ranks from stocker, to cashier, to assistant supervisor, to supervisor, to assistant manager. After being assistant manager for a couple of years, she was transferred to a new store in a small town in a part of the country where this particular supermarket chain had never been before. The store was to open within a month and Laura was to be the new store manager.
Laura managed the store for 25 years and finally retired when the store was closed due to down-sizing. She was well-known and was liked by her workers and customers in the community. She was known by everyone as
the store manager since there was only one supermarket in town. At her retirement party, Joey, a life-long friend of hers, spoke about working with Laura when they were both cashiers. People in the community were surprised since they'd always thought of Laura as the store manager and never as a cashier. Those who only knew Laura from the time she was a store manager ridiculed Joey, saying he was wrong since Laura was a store manager and was never a cashier. Joey also talked about Jeff and Peter who were also store managers, who were mutual friends of Laura and Joey. The people of the community were outranged to hear Joey refer to these two other individuals as store managers when they
knew the only store manager there had ever been was Laura.
Here we have two seemingly contradictory views of Laura and her position. The community only understood Laura's relationship with their community, but Joey saw Laura's relationship from a different, and more expansive, point of view. The community only knew that Laura was
always the store manager. There weren't any store managers
before her and there would be none
after her. Furthermore, she was there before the store opened and would continue to be a part of their community after it closed.
What was Laura doing before she became the store manager? No one in the community had ever even thought about this. They knew Laura from a perspective that did not allow for her existence outside of her position as the once-and-forever store manager.
Most of the Abrahamic religions (I don't know about the others) think of our universe as being the only universe that has ever existed or ever will exist. The Latter-day Saint view is not so restrictive.
Now, don't take this to mean that this is official Church doctrine, because it isn't. I have never heard the word "multiverse" spoken by anyone in an LDS leadership position. I simply read about it (including the story about Laura that I related) in a book I have that was written by a Latter-day Saint. The concept does explain, though, how we can say that we believe what the Bible says about God (that He is the only God who has ever existed or will exist) and at the same time, believe what Joseph Smith said (that God "who sits enthroned in yonder heaven, is a man like one of you.") The first statement explains God's existence from the perspective of a universe (one creation), while the second statement explains God's existence from the perspective of a multiverse (multiple creations).