It is probably best to start with a definition of hate speech first. Hate speech is anything that is communicated that expresses hatred for a group of people, especially in circumstances in which it is likely to cause violence. Often hate speeches are directed against minority groups or groups without power.
In my opinion, hate speeches should be enforced for now. Many times it is not helpful to add laws, when the ones in place are not enforced. If we enforce the laws regarding hate speech now and if these prove to be ineffective, then these laws should be strengthened. In other words, we need to wait and see after the law is enforced. Another important point to consider is as follows. If we make the hate speech law stronger, we might run the risk of make people say nothing that might even appear "politically incorrect." This can has unintended problems.
I will attach an interesting transcript that compare law against hate speeches in the US and other countries.