I was upset, because people that seemed to be contributing less and were less-qualified (at least from my admittedly-biased perspective at the time) were promoted to a higher level than me, and I got a fairly form-letter-esque answer of "we don't have the budget to promote you this time".
The next cycle, they corrected it, and I was officially a "senior engineer" on paper, and I realized how silly my hissy-fit had been. Sure, I guess having a bit more money was nice, but it's not like it radically changed the quality of my life, it's not like having a fancy title changed how people really saw me, and I didn't even bother updating the title on LinkedIn.
I don't think I was "wrong" in what I said. I do think that I deserved the promotion over someone else, but at the same time, I also tarnished a relationship with my boss and coworkers, and I let it get me far more depressed than it should have.
I guess if any "junior" engineers are reading this, try and remember that a title is simply that: a title. They don't matter a lot, try to not get too upset over them, and obsessing over something so nominal is a great way to build up anxiety.
EDIT: Just a note, I absolutely think you should call out a company if you feel like you're being taken for granted. I'm not advocating complacency, just make sure that your hatred is directed to the right places and try to avoid getting too depressed.
The issue was the they had a limited budget for promotions, and basically limited it to one person per team. This, by itself wouldn't have bothered me too much, since the person who deserved it most on my team (someone with more experience than me, and was definitely under-leveled) did get promoted that cycle.
What upset me most was that a person on another team (with 1/3 of my experience, with no increased education, and on a team that accomplished nothing (not just my opinion, that team was disbanded a year later)) got promoted to a level higher than me. My direct boss didn't have any control on that team.
After about 10 years, I just started calling myself a 'senior software engineer' on my resume and nobody has ever called me out on it.
Must be a Silicon Valley thing tied to salary. But in the areas I've worked, titles don't seem to exist for non-management.