I have to caution against learning directly from many of the open-source rendering engines. You can do a lot with these engines if you are willing to put the legwork in, but very few of them are shining examples of architecture or design.
- Horde is pretty minimalistic, but ultimately not very flexible either - it doesn't give you enough to be terribly useful, beyond a starting point for a larger codebase.
- Ogre tries to be everything to everyone, with the result that it isn't quite right for anything, and the architecture maps somewhat poorly to modern graphics hardware (not to mention the eponymous obsession with object orientation).
- IrrLicht is an overgrown quake viewer, and pretty much a nightmare.
- Panda is pretty sophisticated, but the use of 2 programming languages throughout makes learning a bit rough, and it is not solely a rendering engine.
Hieroglyph and Wild Magic are probably your best bets. They a bit different to the others, I think largely because they were written as companions to game development books. You'll find a lot more careful thought put into the architecture. You will probably want to read the accompanying books, though, rather than dive right into the code.