You can sort pictures in an album, and you can sort albums in a folder, and you can sort folders in folders. You can have a very sorted Library!
When you right-click (or control-click) on a folder, like Art Studio, you get a pop-up menu:

Here I've right-clicked on the folder 2014, chosen sort, and I'm offered choices. The same will happen if you right-click on My Albums or on folders containing folders. And, of course, it works on Albums, sorting the pictures inside.
Since you can see that I have my folders sorted by dates, I want to throw in that I have other folders sorted by other topics, as well. And many pictures go in more than one album. The thing is, pictures aren't exactly "in" an album. When you "put a picture into an album," its name is added to a list of pictures to display together when the album is clicked, kind of like a music playlist, but for pictures. So two albums can both have the same picture name in their lists, and that picture will show up when you click either album, but there's only one picture file-- it's just on multiple lists. And when you remove a picture from an album, its name remains in the lists of other albums, and the file still remains in your Library.
So albums give a specific view of your pictures. The picture of "Aunt Ethel at the Grand Canyon" can be in the "Aunt Ethel" album with other pictures of Aunt Ethel, and it can also be in the "Grand Canyon" album with pictures of other people at the Grand Canyon. And it can be in a the "September 2015" album. Each album is pointing to a single file stored in the Photos Library, so having pictures in multiple albums takes up no more storage space. As you can imagine, this is very powerful in organizing pictures.
You didn't ask for that stuff, but I hope it might be useful to you....