This paper shows that acoustoelasticity in one-dimensional (1D) multilayered isotropic hyperelastic materials can be understood through the analysis of elastic wave velocities as a function of applied stress. This theoretical framework is used for eigenvalue analyses in stressed elastic structures through a reformulation of the stiffness matrix method, obtaining modal solutions, as well as reflection and transmission coefficients for different multilayered configurations. Floquet wave analysis for the stressed 1D structures is supported using numerical results.