Hi Nick.
If this were a desktop/tower computer, then I would say to disconnect the PWR LED from the motherboard front panel I/O header. But, with a laptop, no can do! They are not user accessible, and often hardwired (soldered) to the board, that is, not a simple plug and socket connection.
If the LED is too bright, and it is across the model line and not just your one example, then it is a design/engineering error and they need to change the circuit voltage, or select a different LED. If your machine only, then is it a faulty LED? Or the circuit it monitors?
Is it really that bright? I've used several Inspirons but not knowing your model I don't really have a reference. I don't remember any being abnormally bright. But I have seen some pretty distracting LEDs before - mostly on cases, which IMO, should
not draw attention to themselves, and I have seen many monitors with strategically placed sticky notes.
Ask your friends, family and coworkers and if most agree it is
abnormally bright, then you should probably take the laptop in to a shop to have the power supply and charger circuits checked because that could mean something is not quite right - most LEDs have a narrow operating range within about 1.5 volts to 5 volts - depending on color and brightness desired. If that LED is designed to run at 2.2V and it's getting 3V, other, more critical circuits on the motherboard may be running "hot" too. Heat is the bane for all electronics.
If your survey reveals only you, or just a few, find the brightness too high, then you might try covering it up, as long as it is not fairly warm to the touch. If the LED does not protrude above the surrounding surface, you could probably find some sticky "dots" of various colors at your local office supply store. White dots may allow enough light through to serve a purpose, but diffuse it enough to minimize distraction. But so might dark red or brown.
LEDs generate some heat, and when covered, heat cannot escape. Physics says when matter heats up, it expands. When a conductor expands, resistance goes down. Ohms Law says, when resistance goes down, current goes up. Then physics again; when current goes up, heat goes up. So, heat being the bane of all electronics, if the cycle is not checked, "thermal runaway" fries the weakest link. Probably no big deal for a power LED, but it would be dead forever.
I have seen a dab of RTV %100 silicon used effectively too, white or opaque turns a glare into a soft glowing glob - looks good with the increasingly popular blindingly bright blue LEDs used today.
Or perhaps using a toothpick, or a very fine "detail" paint brush, paint a dab of paint on your "line-of-sight" side of the LED - this may remove the distracting glare, allow heat to escape, and allow the indicator LED to do its indicating.