It is an idiomatic usage of stinking (adverb) to add emphasis to the the idea you want to express:
to an extreme degree
- got stinking drunk
(M-W)
As general intensifier, a euphemism for damned, fucking etc, its usage dates back to the beginning of the 20th century according to Green’s Dictionary of Slang:
1908 [UK] A.N. Lyons Arthur’s 61: Well, I knowed ’im for one o’ them furrin-born beggars be ’is stinkin’