pleasantly tipsy; slightly drunk; mildly intoxicated
Describes a light, pleasant buzz rather than heavy drunkenness. Often used in casual, positive contexts.
I'm feeling good, pleasantly tipsy.
He always comes home a little drunk.
酔っ払う means 'to get drunk' (often heavily), whereas ほろ酔い加減 implies a mild, pleasant level of intoxication.
Compound of ほろ酔い (horoyoi, 'slight intoxication') + 加減 (kagen, 'degree, state'). The exact origin of ほろ酔い is uncertain, but it likely derives from mimetic or onomatopoeic elements suggesting a light, warm feeling.