I've done both. Spending hours lying down or curled up with an aching back vs. Sitting up under a roomy tarp, no condensation, using my stove when I want, reading in comfort with my back supported, spreading out wet items on the ridgeline of the hammock, listening to the rain and watching the clouds roll by, standing up to change clothes or add layers...

Not sure what the problem with the hammock would be. But I'm sort of claustrophobic, and prefer my palace in wind and rain.... I'd go stir crazy in any 1p tent. If I'm out with the tent, and it rains, I'd rather be hiking.