I haven't found a better way than trial and error (i.e. the traditional engineering process), as there are many factors beyond hardware influencing indexing speed: the structure/complexity of your index (complex mappings, filters or analyzers), data types, whether your workload is I/O or CPU bound, and so on.
In any case, to demonstrate how variable it can be, I can share my experience, as it seems different from most posted here:
Elastic 5.6 with 10GB heap running on a single vServer with 16GB RAM, 4 vCPU and an SSD that averages 150 MB/s while searching.
I can successfully index documents of wildly varying sizes via the http bulk api (curl) using a batch size of 10k documents (20k lines, file sizes between 25MB and 79MB), each batch taking ~90 seconds. index.refresh_interval is set to -1 during indexing, but that's about the only "tuning" I did, all other configurations are the default. I guess this is mostly due to the fact that the index itself is not too complex.
The vServer is at about 50% CPU, SSD averaging at 40 MB/s and 4GB RAM free, so I could probably make it faster by sending two files in parallel (I've tried simply increasing the batch size by 50% but started getting errors), but after that point it probably makes more sense to consider a different API or simply spreading the load over a cluster.