You can walk the stairs to the top of the waterfall, at your own speed. There is a beautiful view from the top, not only over the waterfall itself but to Dyrhólaey cape and the black sand beach.
This is where the hiking trail, named Fimmvörðuháls, starts. This hiking is 25 km long and it takes the whole day. You continue from top of the Skogafoss waterfall, head to the Eyjafjallajökull glacier and eventually you come to Þórsmörk where you decend from the mountain.
When you travel the South coast of Iceland (from Reykjavík) you´ll brobably be close to Skogafoss in lunch time. The Skogar Bistro is a restaurant that can be recommended for lunch.
Close to the waterfall is the Skogar Museum, is a “cultural heritage collection of 15,000 regional folk craft artifacts exhibited in 3 museums and 6 historical buildings.
Transportation Museum, Communications, Rescue Teams, It is also the historical museum for Rangárvallasýsla and West Skaftafellssýsla counties.”