From the 80's, I'd have to say Tron, Tempest, Joust, and Kickman are among my favorites.
From the 90's, Star Wars Trilogy Arcade. Has to be one of my all-time favorite arcade games of all time. Destroy the Death Star, trip up some AT-ATs, escape from Echo Base, race a speeder bike through the Endor forest, defeat Boba Fett and Vader in lightsaber duels and take out the Death Star II in a massive space battle over the Endor moon, all in one sitting. It's a shame there isn't a home version of it.
Star Wars Racer Arcade and most of Sega's other arcade games from then were pretty great, too (Daytona USA, anyone?).
I also love Hydro Thunder. The spiritual successor, H2Overdrive, does a pretty good job at capturing the feel of the original. There's also the other Midway racing games from then, Cruisin' USA, World, and Exotica.
While I never played the arcade version (though I believe the home versions were pretty good at capturing the feel of the arcade original), NBA Jam is probably the only sports game I can consider enjoyable.
I wasn't around in the 80's so my ability to feel nostalgia from 80's arcade games is a bit, well, limited.