The following sets the arrangement inside an array, with the first row handling the labels on top of each bmatrix, while the second row sets each of the matrices/vectors. \arraystretch has been increased to spread the content vertically.

\documentclass{article}
\usepackage{amsmath}
\begin{document}
\[
\setlength{\arraycolsep}{0pt}% No column separation in array; manual spacing
% by supplying empty groups {} around operators
\renewcommand{\arraystretch}{1.5}% Stretch out content vertically
\begin{array}{ *{8}{c} }
% Header row in \scriptstyle
\scriptstyle W_1 & & % +
\scriptstyle W_2 & & % + ... +
\scriptstyle W_n & & & % = 1/n
\scriptstyle D \\
% Matrix/vector row
\begin{bmatrix}
W_{11} \\ W_{12} \\ \vdots \\ W_{1n}
\end{bmatrix}
& {} + {} &
\begin{bmatrix}
W_{21} \\ W_{22} \\ \vdots \\ W_{2n}
\end{bmatrix}
& {} + \dots + {} &
\begin{bmatrix}
W_{n1} \\ W_{n2} \\ \vdots \\ W_{nn}
\end{bmatrix}
& {} = {} &
\dfrac{1}{n} &
\begin{bmatrix}
W_{11} + W_{21} + \dots + W_{n1} \\
W_{12} + W_{22} + \dots + W_{n2} \\
\vdots \\
W_{1n} + W_{2n} + \dots + W_{nn}
\end{bmatrix}
\end{array}
\]
\end{document}
Since scalar multiplication of a vector results in each component being multiplied by the scalar, some simplification in the presentation makes things line up nicely.
For numbering the equation, you probably want to consider the following solution; it sets the equation number on the math axis.

\documentclass{article}
\usepackage{amsmath}
\begin{document}
\begin{equation}
\setlength{\arraycolsep}{0pt}% No column separation in array; manual spacing
% by supplying empty groups {} around operators
\renewcommand{\arraystretch}{1.5}% Stretch out content vertically
\mathop{\begin{bmatrix}
W_{11} \\ W_{12} \\ \vdots \\ W_{1n}
\end{bmatrix}}^{W_1}
+
\mathop{\begin{bmatrix}
W_{21} \\ W_{22} \\ \vdots \\ W_{2n}
\end{bmatrix}}^{W_2}
+ \dots +
\mathop{\begin{bmatrix}
W_{n1} \\ W_{n2} \\ \vdots \\ W_{nn}
\end{bmatrix}}^{W_n}
=
\dfrac{1}{n}
\mathop{\begin{bmatrix}
W_{11} + W_{21} + \dots + W_{n1} \\
W_{12} + W_{22} + \dots + W_{n2} \\
\vdots \\
W_{1n} + W_{2n} + \dots + W_{nn}
\end{bmatrix}}^{D}
\end{equation}
\end{document}
\[ ... \], wrap it in anequationenvironment, with a\label{...}inside. – barbara beeton Sep 16 '19 at 00:37