The marker clusterer places cluster icons in the overlayMouseTarget
pane which is "above" the overlayImage pane where markers reside.
That's why changing z-indexes doesn't affect the ordering: cluster
icons always appear above markers.
I believe the overlayMouseTarget pane was probably chosen to make it
easier to capture clicks on cluster icons (no need to set up a
transparent overlay as is done with markers). It might also have been
done for UI reasons -- to ensure that clusters weren't obscured by
other stuff on the map (i.e., the complete opposite to what you want).
If the cluster icons were standard markers in the overlayImage pane
you could probably get the effect you're looking for... but there may
be other negative side effects I haven't considered.