It's actually hard to tell, and not obvious because it isn't clear which models you're using.
For example, there are multiple iMac models that use a 3.2GHz i5, but the fact you list 1600MHz memory bus speed hints that it's either the 2012 or 2013 model (as opposed to the 2020 model which also runs at 3.2GHz, but uses 1867MHz memory, and a 6th-generation i5, rather than the 4th-generation model). Like I said, not easy to tell.
On that basis, and assuming the 1.4GHz MacBook Pro is the 2019 version, using an 8th generation i5 (see, I told you this wasn't easy), then I would concur the MacBook Pro has higher raw processing capacity, especially since it also supports hyper threading so acts more like an 8-core CPU than the older 4-core.
However, that still doesn't answer the question because you don't say what you're streaming - I assuming you are streaming your own video source (i.e. uploading) rather than watching a live video stream (downloading). Even then, your network speed is likely a bigger issue - both these computers should be able to handle most streaming tasks, but if the network isn't up to it, neither will provide a decent user experience.
So, in all, there are many facets to this question.