The acceleration due to gravity is approximately 9.8 meters per second squared (32 feet per second squared) near the Earth's surface. This means that the velocity of an object in free fall increases by 9.8 meters per second every second.
Both objects are experiencing the same acceleration due to gravity, and they both started from the same point at the same time. Therefore, they will have the same velocity when they reach the ground, and they will strike the ground at the same time.
However, this is only true in a vacuum. In reality, air resistance does play a role, and objects with a larger surface area or a lower mass may experience a greater amount of air resistance and therefore fall more slowly.