undergraduate GPA versus experience

I have a question for those in hiring and supervision positions. Is it better to have a stronger GPA or relative experiences during undergraduate education? If we assume we are comparing GPAs in the range of 3.0-3.3 versus 3.5-3.7, let's say, nothing as extreme like comparing a GPA of 2.5 versus 4.0, would it be better to sacrifice some GPA points to spend the time in engineering related clubs, research, or internships, or would it be better to make the first impression in a job application with a stronger GPA and sacrifice some extracurriular experiences? I hope what I am asking makes sense.