Rendering objects sharing the same location as if they were on top of each other - how to do it?

I’m about to create a simple shmup game. To manage their interactions, I need to have three types of objects: background, enemies and player ship. I need them to be on the same height (no matter reasons for now).

What my problem is: I need to manage the objects so that they can share the same location (i.e. enemy and a player ship), but be rendered as if one is on top of each other. It’s presented in the pictures attached:

Picture one - that’s how the objects should be located (sharing the same place).

Picture two - that’s how they should be visible in the game

Is such setup possible in UE4? in before: I need all the objects to be rendered in full materials and textures, with other effects on them, so I think the “custom depth” won’t work in this case.

It’d be great if it can be achieved in blueprints exclusively (I’m not good at programming).