Show custom taxonomies hierarchical

function custom_taxonomies_terms_links()
{
    // get post by post id
    $post = get_post( $post->ID );

    // get post type by post
    $post_type = $post->post_type;

    // get post type taxonomies
    $taxonomies = get_object_taxonomies( $post_type, 'objects' );
    $out = '';

    $format_start_list = "<h2>%s</h2><ul>\n";
    $format_start_parent = "<li><h3>%s</h3><ul>\n";
    $format_item = "<li><a href=\"%s\">%s</a></li>\n";
    $format_end_parent = "</ul></li>\n";
    $format_end_list = "</ul>\n";

    foreach ( $taxonomies as $taxonomy_slug => $taxonomy ) {
        $ordered_terms = array();

        // get the terms related to post
        $terms = get_the_terms( $post->ID, $taxonomy_slug );

        if ( !empty( $terms ) ) {
            $out .= sprintf($format_start_list, $taxonomy->label);

            foreach ( $terms as $term ) {
                if ( $term->parent < 1 ) {
                    $ordered_terms[$term->term_id]['parent'] = $term;
                } else {
                    $ordered_terms[$term->parent]['items'][$term->term_id] = $term;
                }
            }

            foreach ($ordered_terms as $id => $terms) {
                $out .= sprintf($format_start_parent, $terms['parent']->name);

                foreach ($terms['items'] as $term) {
                    $out .= sprintf($format_item, get_term_link($term->slug, $taxonomy_slug), $term->name);
                }

                $out .= $format_end_parent;
            }


            $out .= $format_end_list;
        }
    }

    return $out;
}