In my primary setting, the Giants were byproducts of a war between Gods. After them, the Dwarves, Elves and Angels were intentionally created by Gods to be their servants, or more accurately - their hands. There is a lot of history to unpack, but essentially the Dwarves and the Elves were the great populaces of the world (along with Orcs, Goblins, Gith, Drow and Duergar that had been created by tainting Elves and Dwarves) for 5000 years before the Gods discovered how useful it was to have free willed worshippers and and spawned the great multitudes of humanoid creatures (including Humans). It would be 700 years before an event took place that gave Humans a significant place in the universe as a dominant species.
Interestingly (to me at least), Elves and Dwarves are immortal in my setting. Their bodies weaken over time, so the eldest are essentially bed ridden when not aided with magic, but the very first elf still lives (8500 years old).